ECONOMY

ATHEX: Profit taking after advance

athex-profit-taking-after-advance

Greek stocks took a step back on Thursday, partly due to the significant growth recorded over the previous 10 days and also because of the decision by banks to extend the freeze on loan repayments for another couple of months. However, the final hour of trading and the recovery of the banks index helped the benchmark claw back some of its daily losses.

The Athens Exchange (ATHEX) general index ended at 699.20 points, shedding 1.27% from Wednesday’s 708.16 points. The large-cap FTSE 25 index contracted 1.33% to close at 1,656.60 points.

The banks index slipped 0.08%, with Alpha easing 0.96%, Eurobank down 0.20% and Piraeus jumping 2.99%.

Aegean Air slumped 6%, Motor Oil fell 3.39% and Hellenic Petroleum dropped 2.99%.

In total 39 stocks had gains, 58 took losses and 19 remained unchanged.

Turnover amounted to €64.1 million euros, down from Wednesday’s €78.1 million.

In Nicosia, the general index of the Cyprus Stock Exchange increased 0.08% to close at 47.57 points.