January turnover drops, foreign players up stakes

Turnover on the Athens bourse plummeted in January while foreign investors slightly increased their positions in Greek equities, data showed yesterday. Hellenic Exchanges, the holding group that operates the Athens stock exchange, said turnover in January reached a total of 2.5 billion euros, down 78 percent from the same month a year earlier. At the end of last month, the total value of Greek stocks fell to 67 billion euros from 69 billion at the end of 2008, «the lowest point since June 2003,» according to Hellenic Exchanges. Meanwhile, foreign investors upped holdings in stocks to 48 percent of the market’s capitalization from 47.8 percent in December, reversing a three-month downward trend.

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