ECONOMY

Benchmark little changed despite hefty bank losses

benchmark-little-changed-despite-hefty-bank-losses

Despite the big losses posted by Greek bank chips on Monday, the bourse benchmark only edged down on another day of very thin trading at Athinon Avenue.

The Athens Exchange (ATHEX) general index closed at 673 points, shedding just 0.12 percent from Friday’s 673.84 points. The large-cap FTSE 25 index contracted 0.36 percent to end at 196.05 points.

The banks index declined 7.53 percent, although it had been down by as much as 11.46 percent less than an hour before closing. Piraeus Bank shed 11.20 percent, Eurobank fell 9.52 percent, National declined 7.80 percent and Alpha gave up 4.61 percent. The day’s biggest growth among blue chips was registered by Titan Cement (up 4.45 percent) and Grivalia Properties (3.22 percent).

In total 48 stocks enjoyed gains, 45 took losses and 16 closed unchanged.

Turnover amounted to 28.4 million euros, up from last Friday’s 27.8 million.