ECONOMY

ATHEX: Small decline for stocks on ECB news and GDP statistics

athex-small-decline-for-stocks-on-ecb-news-and-gdp-statistics

Local stocks headed south on Thursday in response to economic growth data and news of the possible postponement of the disbursement to Athens of eurozone central banks’ profits from Greek bond holdings. Banks outperformed thanks to the European Central Bank’s decision to issue a new round of low-cost loans to the eurozone’s credit sector, starting this fall.

The Athens Exchange (ATHEX) general index ended at 704.43 points, shedding 0.39 percent from Wednesday’s 707.17 points. The large-cap FTSE-25 index contracted 0.14 percent to 1,834.79 points and small-caps fell 3.04 percent.

The banks index slipped just 0.10 percent, as Piraeus climbed 2 percent, Alpha earned 0.40 percent, National conceded 0.68 percent and Eurobank shrank 1.09 percent.

In total 31 stocks posted gains, 61 declined and 31 stayed put.

Turnover was the highest this week, amounting to 54.5 million euros, up from Wednesday’s 44.2 million.

In Nicosia the Cyprus Stock Exchange general index decreased 0.62 percent to 62.63 points.