ECONOMY

ATHEX: Benchmark ends up in the red yet again

athex-benchmark-ends-up-in-the-red-yet-again

It was the fifth day of stock trading in 2016 on Monday and the Greek bourse benchmark headed south for a fifth day too. In contrast with other European markets that finally saw gains after last week’s miserable results, the main index in Athens closed at the day’s low. There was also a notable decline in trading volume as the market appears oversold but still deprived of buyers, while stocks were split down the middle between gainers and losers.

The Athens Exchange (ATHEX) general index closed at 581.68 points, shedding 0.73 percent from Friday’s 585.98 points. The large-cap FTSE 25 index contracted 0.94 percent to close at 165.72 points, but mid-caps recovered 0.84 percent.

Banks had a mixed picture (up 0.27 percent), with Piraeus falling 1.57 percent, National Bank growing 1.06 percent and Eurobank expanding 0.84 percent.

Folli Follie fared worst among blue chips, sliding 4.08 percent, while Ellaktor gave up 3.60 percent. Public Power Corporation added 1.63 percent and Piraeus Port Authority advanced 1.41 percent ahead of the opening of bids for its privatization in Tuesday.

In total 45 stocks posted growth, 45 suffered losses and 14 remained unchanged.

Turnover amounted to 48.7 million euros, the lowest of the last 21 sessions and down from last Friday’s 87.8 million.