ATHEX: Stock market begins the week with a bull trap

ATHEX: Stock market begins the week with a bull trap

Morning gains gave way to afternoon losses for Greek stocks on Monday, with all the main indices ending the session near or on their day lows – even though fellow eurozone markets headed higher – while turnover was the lowest of the last 20 sessions.

The Athens Exchange (ATHEX) general index ended at 823.46 points, shedding 0.64 percent from Friday’s 828.78 points. The large-cap FTSE-25 index contracted 0.75 percent to 2,086.83 points, while small-caps climbed 0.55 percent.

The banks index declined 0.86 percent, led by National (down 1.95 percent) and Eurobank (1.31 percent). Alpha stayed put.

Among other blue chips, Aegean Air descended 3.09 percent and Piraeus Port Authority fell 2.40 percent, but Sarantis grew 2.07 percent.

Stocks were split with 55 posting a rise and another 55 heading south, as 21 closed unchanged.

Turnover amounted to just 49.5 million euros, down from Friday’s 75.8 million.

In Nicosia the Cyprus Stock Exchange general index advanced 0.49 percent to 69.86 points.

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