ATHEX: Benchmark falls to new 2-month low

The Greek stock market index descended on Monday to a new two-month low after a third consecutive session of losses. The slump accelerated as the day went along, with the benchmark closing near the day’s low although the session had started with gains by index-heavy bank stocks.

The Athens Exchange (ATHEX) general index ended at 626.08 points, the lowest since May 25, shedding 1.30% from Friday’s 634.32 points. The large-cap FTSE 25 index contracted 1.36% to 1,510.40 points.

The banks index declined 1.99%, as Eurobank decreased 2.31%, Alpha gave up 2.08%, National lost 1.81% and Piraeus fell 1.21%.

Lamda Development slumped 6.09%, Hellenic Petroleum shed 2.88%, GEK Terna parted with 2.81%, Sarantis slid 2.72%, Piraeus Port Authority shrank 2.55% and Terna Energy dropped 2.23%. Mytilineos improved 1.57% and Ellaktor advanced 0.46%, being the only blue chips to close higher.

In total 33 stocks reported gains, 56 suffered losses and 16 remained unchanged. Turnover amounted to 65.4 million euros down from last Friday’s €92.2 million.

In Nicosia, the general index of the Cyprus Stock Exchange dropped 0.52% to 45.57 points.