The Bank of Greece estimate for a recession closer to 9.4% this year due to the unfolding second wave of the pandemic put stocks on a downward course on Monday, with turnover also at very low levels. Geopolitical developments appear much more important at this stage, so stock investors are adopting a wait-and-see policy.
The Athens Exchange (ATHEX) general index ended at 618.13 points, shedding 0.33% from Friday’s 620.18 points. The large-cap FTSE 25 index contracted 0.29% to close at 1,457.50 points, although mid-caps expanded 0.40%.
The banks index declined 0.39%, as National dropped 1.92%, Piraeus eased 0.58% and Alpha slipped 0.40%, while Eurobank advanced 0.77%.
Ellaktor fell 3.67%, Public Power Corporation conceded 2.39%, Titan Cement parted with 1.93% and Hellenic Exchanges gave up 1.82%. Motor Oil grew 3.18% and GEK Terna rose 1.77%.
In total 47 stocks reported gains, 52 suffered losses and 19 remained unchanged.
Turnover amounted to 30.7 million euros, down from last Friday’s €51.4 million.
In Nicosia, the general index of the Cyprus Stock Exchange decreased 1.59% to 43.40 points.