ECONOMY

ATHEX: Notable losses as traders assess blow

athex-notable-losses-as-traders-assess-blow

The blow dealt by the bankruptcy of UK tour operator Thomas Cook to the Greek economy was too big for traders at the local stock market to ignore on Monday, leading to significant losses for many stocks, albeit on rather low turnover.

The Athens Exchange (ATHEX) general index ended at 862.59 points, shedding 1.55 percent from Friday’s 876.17 points. The large-cap FTSE 25 index contracted 1.72 percent to 2,133.57 points.

The banks index conceded 2.12 percent, with Eurobank falling 2.52 percent, Alpha giving up 2.39 percent, National losing 1.92 percent and Piraeus sliding 0.80 percent. Motor Oil shrank 4.03 percent, Ellaktor decreased 3.72 percent and Jumbo declined 3.57 percent.

Just two blue chips went up: Sarantis (0.99 percent) and Public Power Corporation (0.14 percent).

In total 33 stocks registered gains, 64 suffered losses and 23 remained unchanged.

Turnover amounted to 53.7 million euros, down from last Friday’s 129.7 million.

In Nicosia the Cyprus Stock Exchange general index eased 1.36 percent to close at 66.53 points.