ECONOMY

ATHEX: Bourse chalks up losses of 3.2 billion in 2016

athex-bourse-chalks-up-losses-of-3-2-billion-in-2016

The fresh slump in stock prices across Asia and Europe resulted in more pressure on the local bourse on Thursday, while a technical glitch an hour before the end of the session temporarily halted data transmission, although it was soon fixed.

The Athens Exchange (ATHEX) general index closed at 573.92 points, shedding 2.62 percent from Wednesday’s 589.35 points. The large-cap FTSE 25 index contracted 3.16 percent to 163.89 points, while small-caps rebounded 1.24 percent.

In the first eight sessions of the year the local bourse has seen some 3.2 billion euros wiped off its value, with seven out of eight days producing losses for the benchmark, adding up to 9.10 percent.

Piraeus Bank, hurt by management squabbles, gave up 7.14 percent, Public Power Corporation shrank 5.43 percent and Mytilineos fell 5.18 percent. Alpha Bank declined 3.15 percent, accounting for some 48 percent of all trading volume on Thursday. Viohalco reached a new historic low of 1.49 euros, sliding 1.97 percent. Not a single blue chip escaped loss-free, but Piraeus Port Authority only relinquished 0.07 percent.

In total 26 stocks registered gains, 66 recorded losses and 20 remained unchanged.

Turnover amounted to 118.6 million euros, up from Wednesday’s 83.9 million.