ATHEX: A downbeat start to year on local bourse

The start of the new year on the Greek stock market gave traders little to cheer about, with the majority of stocks ending on the losing side and turnover failing even to make the 20-million-euro level, as the Athens bourse appeared to affected by the downbeat mood prevailing across most of Europe.

The Athens Exchange (ATHEX) general index ended at 605.34 points, shedding 1.30 percent from Monday’s 613.30 points. The large-cap FTSE-25 index contracted 0.80 percent to 1,595.56 points, while small-caps advanced 0.37 percent.

The banks’ index dropped 2.77 percent, with Piraeus sliding 5.95 percent, Eurobank losing 5.56 percent, National conceding 2.73 percent and Alpha shrinking 0.55 percent.

GEK Terna, which enjoyed gains of over 17 percent on Monday, fell 8.33 percent on Wednesday. Motor Oil decreased 4.29 percent and Aegean Air gave up 2.71 percent, as OTE rose 1.05 percent.

In total 31 stocks recorded gains, 50 suffered losses and 34 remained unchanged.

Turnover came to 18.3 million euros, the lowest since late November, down from Monday’s 21.2 million.

In Nicosia the Cyprus Stock Exchange general index declined 0.76 percent to close at 66.26 points.