ECONOMY

Bourse trading volume hits new year-low

Turnover at the Greek bourse slumped to a 14-month low on Monday as investors hold back due to the uncertainty hanging over negotiations between the government and its creditors.

The Athens Exchange (ATHEX) general index ended at 881.76 points, shedding 1.01 percent from Friday’s 890.74 points. The large-cap FTSE/ATHEX 25 index contracted 1.11 percent to 284.65 points.

Most stocks posted losses on account of poor growth results from Japan, as in the rest of European markets, while banks gave up 0.65 percent after a patchy set of reports from foreign observers such as Citi, JP Morgan and Goldman Sachs, whose common denominator was the notable political risk.

Blue chip Viohalco hit a historic low of 2.06 euros after giving up 5.07 percent. Among the other big losers were Ellaktor (down 4 percent) and OTE telecom (3.75 percent), while Hellenic Petroleum and EYDAP outperformed, recording gains of 2.59 percent and 1.92 percent respectively.

In total 38 stocks registered growth, 67 sustained losses and 24 remained unchanged.

Turnover amounted to just 34.4 million euros, down from last Friday’s 58.7 million.