ATHEX: Benchmark sheds 2% on profit taking

Traders chose on Friday to cash in their recent profits at Athinon Avenue, sending the benchmark of the Greek bourse back close to 900 points through the biggest daily drop in over two months, which also swung the weekly results from gains into losses. 

The high turnover on the day showed this was not a random event but rather a wave of profit taking that had been waiting to break.

The Athens Exchange (ATHEX) general index closed at 903.97 points, shedding 2% from Thursday’s 922.42 points. On a weekly basis it declined 1.49%.

The large-cap FTSE-25 index contracted 2.24% to end up at 2,200.04 points and the banks index fell 3.90%. 

Piraeus slumped 4.68%, Eurobank sank 4.58%, Quest Holdings lost 4.07% and Viohalco parted with 3.57%, while Sarantis earned 0.62% and Aegean Air climbed 0.60%.

In total 20 stocks posted gains, 70 suffered losses and 27 remained unchanged.

Turnover amounted to 86 million euros, up from Thursday’s €53.4 million.

In Nicosia, the general index of the Cyprus Stock Exchange decreased 1.35% to close at 89.97 points.