ATHEX: Investors focusing on stock picking

For the third day in a row the benchmark of the Greek stock market closed with losses that affected half the board’s stocks. However, on Thursday the turnover was significantly increased compared to previous days. Banks led the decline, with the exception of National Bank, while corporate results continued to dictate the moves of investors.

The Athens Exchange (ATHEX) general index closed at 1,218.07 points, shedding 0.75% from Wednesday’s 1,227.27 points. The large-cap FTSE-25 index contracted 1.02%, ending at 2,962.70 points.

The banks index declined 1.47%, as Piraeus dropped 2.38%, Eurobank gave up 1.93% and Alpha parted with 1.92%, although National edged up 0.15%.

Ellaktor soared 6.71%, Quest Holdings advanced 1.85% and Coca-Cola HBC grew 1.64%, while Motor Oil decreased 3.53%, OTE telecom fell 5.22% and Mytilineos was down 1.64%.

In total 46 stocks registered gains, 47 suffered losses and 27 remained unchanged. Turnover amounted to 80.4 million euros, up from Wednesday’s €60.1 million.

In Nicosia, the general index of the Cyprus Stock Exchange increased 0.02% to 127.14 points.