ATHEX: Investors shift sights to bonds

ATHEX: Investors shift sights to bonds

The Greek securities markets are showing a shift from stocks to bonds, as confidence in the state’s solvency is growing while the private sector is facing multiple problems. On the same day the benchmark of Athinon Avenue suffered minor losses and banks dipped to new lows, the Greek 10-year bond continued its rally, with its yield dropping to 1.73% on Thursday.

The Athens Exchange (ATHEX) general index ended at 608.34 points, shedding 0.36% from Wednesday’s 610.52 points. The large-cap FTSE 25 index contracted 0.33% to 1,451.11 points.

The banks index eased 0.27% to dive to a new historic low of 267.01 points. Eurobank lost 0.97% and National climbed 0.26%, as Alpha and Piraeus stayed put.

Fourlis Holdings jumped 8.79% and Titan Cement earned 1.47%, but Aegean Air parted with 8.66% and Ellaktor decreased 2.84%.

In total 43 stocks posted gains, 50 endured losses and 18 remained unchanged.

Turnover amounted to 45.8 million euros, down from Wednesday’s €59.1 million.

In Nicosia, the general index of the Cyprus Stock Exchange increased 0.58% to close at 47.12 points.

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