ATHEX: Banks lead stock index to slight drop

ATHEX: Banks lead stock index to slight drop

Global concerns over the coronavirus pandemic and vaccines, and the continuing tension with Turkey weighed on the Greek bourse once again on Wednesday, with bank stocks leading the benchmark to a fresh decline, just as the Greek bonds go from strength to strength.

The Athens Exchange (ATHEX) general index ended at 632.81 points, shedding 0.55% from Tuesday’s 636.33 points. The large-cap FTSE 25 index contracted 0.75% to close at 1,497.30 points, but mid-caps slipped just 0.03%.

The banks index dropped 2.14%, with Eurobank declining 2.85%, National falling 2.02%, Alpha giving up 1.74% and Piraeus conceding 1.26%.

Other losers included Motor Oil (down 2.50%), Jumbo (2.34%) and OTE telecom (1.10%). GEK Terna and Lamda Development advanced 1.74% and 1.09% respectively on news of the GEK Terna-Mohegan bid selected for the casino at a plot to be developed by Lamda.

In total 32 stocks enjoyed gains, 62 suffered losses and 31 closed unchanged.

Turnover amounted to €32.6 million, down from Monday’s €36 million.

In Nicosia, the general index of the Cyprus Stock Exchange decreased 0.52% to 43.76 points.

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