Investor pessimism drives stock index lower
The gloomy outlook regarding the second bailout review resulted in stocks heading south in thin trade yesterday, with particularly low market expectations about the International Monetary Fund’s board meeting that started long after the bell rang at Athinon Avenue.
The Athens Exchange (ATHEX) general index closed at 620.75 points, shedding 1.30 percent from Friday’s 623.06 points. The largecap FTSE 25 index contracted 1.46 percent to end at 1,655.61 points.
Banks slumped 3.66 percent, as Piraeus fell 4.84 percent, Eurobank gave up 4.43 percent and Alpha conceded 3.85 percent.
Mytilineos outperformed with its 2.14 percent increase, while Grivalia Properties dropped 2.91 percent.
In total 33 stocks registered gains, 51 posted losses and 28 stayed put.
Turnover amounted to 27.3 million euros, up from Friday’s 26.4 million.
In Nicosia the general index of the Cyprus Stock Exchange declined 0.64 percent to close at 68.33 points.