ECONOMY

Bourse quiet as investors sit and wait

As global markets hold their collective breath ahead of Thursday’s referendum in Scotland, investors chose to abstain from the local bourse as well on Monday, with the third-lowest daily trading volume of the year to date. Today’s treasury bill auction will likely mean another day of little action for Greek stocks.

The Athens Exchange (ATHEX) general index ended at 1,155.95 points, shedding 0.46 percent from Friday’s 1,161.28 points. The large-cap FTSE/ATHEX 25 index contracted by 0.41 percent to close at 375.19 points.

Investors had already priced in Greece’s sovereign rating upgrade from Standard & Poor’s by Friday evening, so it made little difference to trading on Monday. But then, S&P Dow Jones demoted the Greek bourse to emerging market status, which likely added to the selling pressure, however slight.

EYDAP suffered the biggest drop among blue chips (down 3.26 percent), followed by Hellenic Exchanges (3.07 percent). Jumbo climbed 2.43 percent and Eurobank Properties added 0.91 percent.

In total 49 stocks registered gains, 78 recorded losses and 20 remained unchanged.

Turnover amounted to just 45.5 million euros, down from last Friday’s 58.7 million.