ECONOMY

ATHEX: Stock index slips at start of trading week

athex-stock-index-slips-at-start-of-trading-week

The Greek stock market appeared unaffected on Monday by the growth momentum observed by its international peers, and recorded a small decline on fairly low turnover. The likely reason was the decision by DBRS Morningstar last Friday not to upgrade Greece’s rating, opting instead to upgrade only the country’s outlook to “positive.”

The Athens Exchange (ATHEX) general index ended at 879.25 points, shedding 0.13 percent from Friday’s 880.36 points. The large-cap FTSE 25 index contracted 0.40 percent to 2,175.44 points.

The banks index conceded 1.22 percent, with Alpha dropping 1.94 percent, Eurobank decreasing 1.32 percent, National giving up 0.46 percent and Piraeus slipping 0.19 percent.

Among the other blue chips – as the market anticipates the MSCI index shake-up on Thursday – Sarantis improved 2.05 percent, Jumbo climbed 1.71 percent and Fourlis Holdings grabbed 1.67 percent, as OPAP fell 3.32 percent and Ellaktor eased 2.51 percent.

In total 42 stocks registered gains, 50 suffered losses and 28 remained unchanged.

Turnover amounted to 55.9 million euros, up from last Friday’s 45.7 million.

In Nicosia the general index of the Cyprus Stock Exchange advanced 0.42 percent to close at 65.30 points.