ECONOMY

Bourse throws effort into just staying afloat

Efforts to maintain the 1,000-point level of the Greek stock exchange’s benchmark paid off for a second day in a row on Monday, though the focus on this defensives approach illustrates the extent to which the market has run out of steam.

The Athens Exchange (ATHEX) general index ended at 1,005.55 points, adding just 0.07 percent to Friday’s closing of 1,004.88 points. The large-cap FTSE/ATHEX 25 index expanded 0.27 percent, ending at 327.73 points, but the mid-cap index declined by 0.35 percent.

International concerns regarding growth prospects in the eurozone and beyond have not helped, while privatizations in Greece remain stagnant and have been unable to revitalize the bourse.

Blue chips were split down the middle between winners and losers, but banks enjoyed a good day as their index grew 1.45 percent. Piraeus Bank rose 2.50 percent and Eurobank climbed 2.07 percent. Intralot declined 6.21 percent and Viohalco shed 2.97 percent.

In total 71 stocks registered growth, 69 recorded losses and 28 remained unchanged.

Turnover amounted to 83.4 million euros, down from last Friday’s 133.7 million.