ECONOMY

ATHEX: December, the fifth straight month of drop for stocks

ATHEX: December, the fifth straight month of drop for stocks

A year of losses ended on Monday at the Greek bourse on a high note, as the benchmark advanced by almost 10 points albeit on a very low turnover. However this has only marginally contained the loss of some 9 billion euros from the local market’s capitalization in the course of 2018, when listed banks saw their value cut in half.

The Athens Exchange (ATHEX) general index ended at 613.30 points, adding 1.57 percent to Friday’s 603.84 points. December proved to be the fifth consecutive month of decline for the benchmark that shrank 2.69 percent, to bring its total losses for the year to 23.56 percent.

On Monday the large-cap FTSE-25 index expanded 1.25 percent to 1,608.40 points. The banks index jumped 5.63 percent, but its losses for 2018 came to 49.82 percent.

GEK Terna soared 17.07 percent, Alpha improved 6.08 percent, Eurobank grew 5.88 percent, National earned 5.06 percent and Piraeus increased 3.70 percent, while Ellaktor declined 5.76 percent.

In total 47 stocks registered gains, 29 sustained losses and 35 remained unchanged.

Turnover amounted to 21.2 million euros, down from last Friday’s 27 million.

In Nicosia the Cyprus Stock Exchange general index advanced 1.18 percent to close at 66.77 points.