ATHEX: Investors cannot afford any pessimism

The early losses of the Greek stock market’s general index were reversed and turned into minor gains as the new week – and month – began with measured hopes for a deal between the government and its creditors. Observers say that the bourse simply refuses to get carried away by the sweeping wave of pessimism as that would have meant certain losses for the investors who are committed to – or trapped in – it.

The Athens Exchange (ATHEX) general index closed at 826.04 points, adding 0.38 percent to Thursday’s 822.88 points, although at one point it was down 2.53 percent. The large-cap FTSE/ATHEX 25 index expanded 0.67 percent to close at 246.92 points. Mid-caps outperformed, climbing 3.38 percent.

Piraeus Bank increased 8.59 percent and EYDAP gained 5 percent, but Viohalco gave up 9.13 percent.

The interest by Cosco and Maersk in the majority stake in Piraeus Port Authority (OLP), as reported by the Wall Street Journal, led the company’s stock up 1.43 percent.

In total 68 stocks reported gains, 49 sustained losses and 12 remained unchanged.

Turnover amounted to 82.5 million euros, down from last Thursday’s 113 million.

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