ATHEX: Fifth straight day of losses for local stocks

ATHEX: Fifth straight day of losses for local stocks

Greek stocks slipped on Monday for the fifth session in a row, suggesting that the previous Monday’s major gains were a mere blip. Turnover was particularly low, pointing to the unlikelihood of a year-end rally, given that there are only 12 sessions left to go in 2018.

The Athens Exchange (ATHEX) general index ended at 638.20 points, shedding 1.62 percent from Friday’s 652.04 points. The large-cap FTSE-25 index contracted 1.61 percent to 1,669.98 points.

The banks index conceded 2.18 percent, taking its total losses over the previous seven days to 9.40 percent. Piraeus slumped 3.97 percent, Eurobank gave up 2.65 percent, National decreased 1.92 percent and Alpha was down 1.73 percent.

All but two blue chips headed south, led by Hellenic Exchanges (down 3.90 percent), Hellenic Petroleum (3.29 percent) and Fourlis Holdings (2.98 percent). EYDAP expanded 1.20 percent.

In total 20 stocks notched up gains, 57 sustained losses and 42 remained unchanged.

Turnover was the lowest of the last 11 sessions, amounting to just 24.4 million euros, down from last Friday’s 40 million.

In Nicosia the Cyprus Stock Exchange general index declined 2.21 percent to close at 65.41 points.

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