ECONOMY

HELEX sees turnover and net gains decline in first quarter

Hellenic Exchanges’ group net profits dipped by more than two-thirds in the first quarter of the year. The operator of the Greek bourse announced that its first-quarter profits reached just 5.8 million euros, a 68 percent decline relative to the same period last year. «The drop is mostly due to the reduction in total transactions on the Athens Exchange as well as limited activity by listed companies in raising capital from the bourse,» the company said in a statement. Q1 transactions fell to 7 billion euros from 25.7 billion euros in the first quarter of 2008, which represents a 73 percent decline and is also attributed to the drop in stock values. Group turnover declined by 61 percent, to reach 12.8 million euros from 32.8 million euros a year earlier.