ATHEX: Traders sell in preparation for AIA offering

The stock market at Athinon Avenue came off Wednesday’s decade-high to suffer losses on Thursday that were somewhat moderated by the end of the session. Observers noted the intention of investors to sell and secure some liquidity in order to join the public offering of Athens International Airport – a process that began on Thursday.

The Athens Exchange (ATHEX) general index closed at 1,352.86 points, shedding 0.67% from Wednesday’s 1,362.05 points. The large-cap FTSE-25 index contracted 0.87%, ending at 3,292.22 points, but mid-caps improved 0.78%.

The banks index conceded 0.48%, as Eurobank declined 1.02%, National dropped 0.29%, Alpha eased 0.28% and Piraeus slipped 0.17%. OTE telecom sank 2.63%, Quest Holdings diminished 2.20%, Public Power Corporation fell 2% and Ellaktor lost 1.61%, while Motor Oil advanced 0.46%.

In total 37 stocks reported gains, 73 sustained losses and 20 remained unchanged.

Turnover amounted to 101.7 million euros, up from Wednesday’s €97.7 million.

In Nicosia, the general index of the Cyprus Stock Exchange increased 0.40% to close at 137.04 points.