ATHEX: Concern over floods offsets upgrade news
The confirmation of Greece’s return to investment grade with the upgrade granted by DBRS Morningstar last Friday only had a temporary impact on the Greek stock market, as after the first couple of hours on Monday stocks at Athinon Avenue declined, with banks suffering most of the losses. Traders appear more concerned about the unexpected impact on the economy of the storm that flooded Thessaly in central Greece.
The Athens Exchange (ATHEX) general index closed at 1,250.59 points, shedding 0.71% from Friday’s 1,259.50 points. The large-cap FTSE-25 index contracted 0.88% to end at 3,026.30 points.
The banks index dived 2.78%, as Piraeus sank 4.45%, National slumped 3.17%, Alpha eased 2.61% and Eurobank declined 1.61%. ElvalHalcor added 2.87% and Quest Holdings gave up 2.26%, while Sarantis earned 1.52% and Coca-Cola HBC grew 1.27%.
In total 34 stocks posted gains, 21 endured losses and 21 remained unchanged.
Turnover amounted to 139.4 million euros, up from last Friday’s €92.7 million.
In Nicosia, the general index of the Cyprus Stock Exchange decreased 0.83% to close at 131.76 points.
