ECONOMY

Traders eye developments with creditors

The last week of November began with minor losses for the Greek bourse’s benchmark as traders are anticipating developments regarding a pending review of the Greek program’s progress by the country’s creditors. With Fitch maintaining Greece’s ‘B’ credit rating late on Friday, the market is now shifting its attention to the new ratings to be announced by Moody’s at the end of this week.

The Athens Exchange (ATHEX) general index ended on Monday at 990.11 points, shedding 0.50 percent from Friday’s 995.07 points. The large-cap FTSE/ATHEX 25 index contracted 0.46 percent to 321.31 points.

Banks had a mixed performance but their sectoral index shrank 0.77 percent.

Marfin Investment Group added 2.12 percent, Jumbo edged up 2 percent and Grivalia Properties expanded 1.93 percent. Hellenic Exchanges was the biggest loser dropping 3.55 percent, Eurobank fell 3.46 percent and Ellaktor declined 3.38 percent.

In total 47 stocks reported gains, 55 showed losses and 19 remained unchanged.

Turnover amounted to 73.2 million euros, down from last Friday’s 112 million.