ECONOMY

ATHEX: Moderate gains in first week of trade

athex-moderate-gains-in-first-week-of-trade

The first trading week of the year ended with the benchmark up 1.27% after a rather forgettable session on Friday that left the index virtually unchanged while bank stocks continued their slide for the third day in a row. Crucially, the main index has consolidated itself above the 800-point mark, where it stayed for an eighth session, and can look up for the next week after the stock picking observed in the last couple of days of this week.

The Athens Exchange (ATHEX) general index ended at 819.27 points, shedding 0.09% from Thursday’s 820.03 points. The large-cap FTSE 25 index contracted 0.13% to close at 1,950.62 points and the banks index gave up 0.95%.

National Bank fell 3.24% and Lamda Development parted with 2.63%, as Coca-Cola HBC advanced 2.44%.

In total 42 stocks posted gains, 65 sustained losses and 22 remained unchanged.

The fact that the daily trading volume remained above 80 million euros is another encouraging factor.

Turnover amounted to €81 million, down from Thursday’s €86.8 million.

In Nicosia, the general index of the Cyprus Stock Exchange declined 0.18% to close at 56.16 points.