Mixed picture in local stocks

Greek stocksposted marginal gains yesterday as investors continue to tread cautiously domestically and abroad in unchartered post-UK referendum territory. The first half of the year ended with the benchmark declining 14.13 percent and the banks index by 41.40 percent.

The Athens Exchange (ATHEX) general index closed at 542.12 points, up just 0.04 percent from Wednesday’s 541.88 points. The large-cap FTSE 25 index declined 0.86 percent to end at 1,451.96 points, while mid-caps rose 1.28 percent.

The unrest at domestic banks, with changes expected in managerial posts, and the international trend toward selling credit stocks contributed to the banks index sliding 4.79 percent. Piraeus Bank slumped 6.40 percent, Alpha lost 6.36 percent, Eurobank surrendered 2.48 percent and National fell 2.04 percent.

Piraeus Port Authority, whose sale to Cosco Shipping has been in question since Wednesday, gained 1.24 percent. Jumbo jumped 4.99 percent, and EYDAP and Motor Oil both grew 3.16 percent.

In total 49 stocks registered gains, 35 reported losses and 16 remained unchanged.

Turnover amounted to 83.8 million euros, up from Wednesday’s 73 million.

In Nicosia the general index of the Cyprus Stock Exchange advanced 0.70 percent to close at 65.85 points. of the Hellenic Financial Stability Fund, Giorgos Michelis (seen here on the left in a file photo with President Prokopis Pavlopoulos), has been asked to resign from the bank bailout fund in order to facilitate changes to it, according to its assessment committee.