Gazprom and BOC ex­clu­sion in­flict losses

Kathimerini English - - Front Page -

The fail­ure of Rus­sian en­ergy gi­ant Gazprom to ta­ble a bind­ing bid for Pub­lic Gas Cor­po­ra­tion (DEPA) and the tem­po­rary ex­clu­sion of Bank of Cyprus from the bourse in­dexes re­sulted in ma­jor losses for the lo­cal bourse at the start of the week.

The Athens Ex­change (ATHEX) gen­eral in­dex closed at 939.78 points, fall­ing by 4.69 per­cent from Fri­day’s 986.05 points. The large-cap FTSE/ATHEX-25 in­dex con­tracted by 4.79 per­cent to 319.24 points.

As the mar­ket awaits to­day’s ver­dict by MSCI over whether Athens will re­main a de­vel­oped mar­ket or will be rel­e­gated to “emerg­ing,” most stocks suf­fered a de­cline yes­ter­day, led by PPC (down 6.09 per­cent), Alpha Bank (5.59 per­cent), METKA (4.29 per­cent) and Coca-Cola HBC (4.24 per­cent). In­tralot added 2.55 per­cent.

Bank of Cyprus is not ex­pected to re­sume trad­ing be­fore July 31.

In to­tal, 48 stocks posted gains, 87 reg­is­tered losses and 25 re­mained un­changed. Turnover came to 55 mil­lion eu­ros, up from last Fri­day’s 45.8 mil­lion.

To­day will also see the re­turn to trad­ing of the stocks of Pi­raeus and At­tica Bank fol­low­ing the com­ple­tion of their re­verse split, as their share cap­i­tal in­crease en­ters its fi­nal phase.

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