ECONOMY

ATHEX: Stocks seen heading to year-end slide

athex-stocks-seen-heading-to-year-end-slide

The negative mood among domestic and foreign investors alike saw Greek stocks posting fresh losses at the start of the week, with the decline accelerating when European bourses headed south. The rather unexpected jump in Greek bond yields also contributed toward the stock drop.

The Athens Exchange (ATHEX) general index ended at 632.04 points, shedding 2.05 percent from Friday’s 645.24 points. The large-cap FTSE-25 index contracted 2.09 percent to 1,664.07 points.

The banks index shrank 3.47 percent, with Alpha slumping 4.68 percent, Piraeus giving up 3.098 percent, Eurobank conceding 2.91 percent and National sliding 1.21 percent.

Public Power Corporation plunged 5.42 percent, Fourlis Holdings lost 4.56 percent and Motor Oil decreased 3.73 percent. ADMIE was the only blue chip to advance, rising 1.49 percent, while Terna Energy ended flat.

In total 20 stocks reported gains, 72 took losses and 29 remained unchanged.

Turnover amounted to 32 million euros, up from last Friday’s 28.8 million.

In Nicosia the Cyprus Stock Exchange general index improved 0.61 percent to close at 65.74 points.