ECONOMY

ATHEX: ECB attitude sends stock prices lower

athex-ecb-attitude-sends-stock-prices-lower

Despite the early euphoria on most European markets after the peaceful inauguration of Joe Biden in Washington, which led Asian stocks higher too, the afternoon saw prices slide at Athinon Avenue, led by banks. Traders would have liked to hear some more concrete comments from the European Central Bank on Thursday other than Frankfurt’s decision to stay put.

The Athens Exchange (ATHEX) general index ended at 796.77 points, shedding 0.50% from Wednesday’s 800.76 points.

The large-cap FTSE 25 index contracted 0.58% to close at 1,903.70 points, though mid-caps expanded 0.19%.

The banks index declined 0.89%, as Piraeus lost 2.82% and Alpha fell 2.45%, while National earned 1.93%.

Among the other blue chips, EYDAP added 2.37%, Aegean Air augmented 2.27% and GEK Terna ended down 2.44%.

In total 40 stocks posted gains, 61 saw losses and 20 remained unchanged.

Turnover amounted to 54 million euros, up from Wednesday’s €52.8 million.

In Nicosia, the general index of the Cyprus Stock Exchange increased 1.05% to close at 57.55 points.