ECONOMY

Bourse drops 21.7 percent during August

bourse-drops-21-7-percent-during-august

The local bourse’s four-day recovery streak came to an end on Monday as bank chips suffered significant pressure, while trading volume remained at a very low level, due at least in part to the British bank holiday. It sealed the end of a month that saw the benchmark give up 21.7 percent of its value following its five-week hiatus that started on June 28.

The Athens Exchange (ATHEX) general index closed at 624.20 points, shedding 1.52 percent from Friday’s 633.81 points. At mid-session it was down by almost 2 percent. The large-cap FTSE 25 index contracted 2.12 percent to end at 182.72 points, but the mid-cap index ended without a change.

Alpha Bank and Eurobank recorded the biggest declines (10.64 percent and 10 percent respectively), followed by Titan Cement (down 5.22 percent) and Mytilineos (4.62 percent). Lamda Development outperformed, advancing 7.06 percent, with Jumbo growing 2.60 percent.

In total 27 stocks recorded gains, 52 sustained losses and 13 remained unchanged.

Turnover amounted to 32.3 million euros, up from last Friday’s 20.1 million, with over one-third coming in the closing auctions due to MSCI index movement applying as of Tuesday.