ATHEX: Stocks decline after Friday’s sudden jump

ATHEX: Stocks decline after Friday’s sudden jump

After Friday’s unexpected gains, Greek stocks conceded some ground on Monday, with banks giving up the most. However, losses were contained significantly during the closing auctions, with Coca-Cola HBC, the market’s biggest company by capitalization, posting a remarkable recovery in the last 15 minutes of trading.

The Athens Exchange (ATHEX) general index ended at 627.91 points, shedding 1.83 percent from Friday’s 639.64 points. The large-cap FTSE 25 index contracted 2.14 percent to close at 1,688.44 points.

With the exception of Bank of Cyprus, which advanced 6.02 percent, the bank sector sustained significant losses as its index declined 6.57 percent. Piraeus Bank decreased 7.91 percent, Alpha lost 7.25 percent, Eurobank fell 5.50 percent and National dropped 5.10 percent.

CCHBC covered all of the day’s losses to end 1.21 percent higher than Friday’s closing. It was only bettered by Titan Cement (up 1.96 percent) and Folli Follie (1.43 percent). Public Power Corporation gave up 5.59 percent.

In total 38 stocks registered gains, 61 recorded losses and 16 remained unchanged.

Turnover amounted to 51.5 million euros, just a third of last Friday’s 154 million.

In Nicosia the general index of the Cyprus Stock Exchange advanced 0.69 percent to close at 65.69 points.

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