ECONOMY

ATHEX loses early gains, sheds 0.57%

athex-loses-early-gains-sheds-0-57

Initial gains on the Athens Stock Exchange on Friday turned negative at the end of the session, as other European markets also ended with losses on the back of negative expectations as reflected in various Purchasing Managers’ Indices.

The general index closed at 633.27 points, a drop of 0.57%, after initially posting gains as high as 0.63%, rising to 640.94.

On a weekly basis, the stock market declined 0.17%, although it is still up 2.54% since the start of August. It has lost 30.92% in 2020.

Turnover was €27.88 million on volume of 18,662,945 shares.

Of the 109 traded shares, 37 ended with gains, 55 with losses and 17 with no change.

Blue chips fell 0.58% and mid-caps 0.60%.

Among the blue chip gainers were power transmission operator ADMIE (0.87%), metals firm Viohalco (0.86%), conglomerate Mytilineos (0.78%) and holding company Fourlis (0.49%). The biggest losses were recorded by Piraeus Bank (2.36%) and construction group Ellaktor (1.75%).

Among sectoral indices, the top gains were recorded by raw materials (0.92%) and industrial products (0.63%), while the leading losers were health (4.13%) and communications (1.44%).