ATHEX: Local stocks continue to head south

The Greek bourse benchmark’s 1,200-point level finally yielded after several days of pressure on Thursday, with banks leading the southbound trajectory of the main index, which dropped to a new four-month low. The often disappointing corporate results after the year’s first half and continued pressure on other eurozone markets are feeding the downward trend at Athinon Avenue.

The Athens Exchange (ATHEX) general index closed at 1,193.32 points, shedding 0.90% from Wednesday’s 1,204.11 points. The large-cap FTSE-25 index contracted 1.27% to end at 2,893.56 points.

The banks index conceded 2%, as Alpha declined 2.80%, National fell 2.60%, Piraeus parted with 2.40% and Eurobank shied 0.72%.

Aegean Airlines sank 3.77%, Ellaktor gave up 3.68% and Cenergy Holdings lost 2.10%, while Titan Cement earned 3.02% and Lamda Development advanced 1.71%.

In total 30 stocks obtained gains, 59 sustained losses and 25 remained unchanged.

Turnover amounted to 77 million euros, up from Wednesday’s €76 million.

In Nicosia, the general index of the Cyprus Stock Exchange increased 0.55% to close at 130.98 points.