ATHEX: Hope for rise in index after heavy selling
The state has completed the sale of a 10% stake in National Bank, and the Greek stock market can now revert to its normal mode after a streak of loss-making sessions, with the historic lender seeing its stock price end up level with the stake’s transaction price of 7.55 euros on Thursday. Overall the benchmark at Athinon Avenue closed near the day’s low after another selling spree.
The Athens Exchange (ATHEX) general index closed at 1,418.42 points, shedding 0.73% from Wednesday’s 1,428.81 points. The large-cap FTSE-25 index contracted 0.77%, ending at 3,430.91 points.
The banks index dropped 0.99%, as National conceded 1.31%, Eurobank fell 1.27%, Piraeus gave up 0.89% and Alpha parted with 0.37%. Among the other blue chips, Titan Cement slumped 2.58%, Jumbo sank 2.26%, Cenergy Holdings conceded 2.04%, while OTE telecom expanded 0.89%.
In total 37 stocks recorded gains, 57 sustained losses and 29 remained unchanged.
Turnover amounted to €809.5 million owing to the National stake sale, up from Wednesday’s €196.7 million.
In Nicosia, the general index of the Cyprus Stock Exchange increased 0.48% to close at 191.27 points.
