ATHEX: Cheap drop for the stock market index

The Greek stock market returned on Thursday to where it had closed at on Tuesday, following Wednesday’s rather unexpected jump, with traders cashing in gains made during the previous session, but on reduced turnover. The market appears this week to have once again tested the waters around the 900-point mark, but closed near the lowest point of the day.

The Athens Exchange (ATHEX) general index closed at 890.28 points, shedding 1.08% from Wednesday’s 899.97 points. The large-cap FTSE-25 index declined 1.34%, ending at 2,154.88 points.

The banks index declined 1.69%, as Eurobank fell 3.60% and Alpha lost 2.42%, while Piraeus stayed put and National advanced 0.92%. Sarantis slumped 4.46%, Jumbo dropped 3.79%, Lamda Development gave up 2.50% and Coca-Cola HBC parted with 2.10%, as EYDAP earned 3.97% and Motor Oil climbed 1.34%.

In total 25 stocks posted gains, 70 sustained losses, and 16 remained unchanged.

Turnover amounted to 67.4 million euros, down from Wednesday’s €92.3 million.

In Nicosia, the general index of the Cyprus Stock Exchange decreased 0.87% to close at 70.82 points.