Athens Stocks declined for a second consecutive session on Thursday, in the wake of yesterday’s decline by Moody’s and amid downward trends in foreign markets.
Only five shares ended in green across FTSE20, with profits of MIG, PPC and National Banks standing out, while on the contrary OTE closed at session’s low.
Banks moved with strong fluctuations, posting minor losses, with only National Bank ending on positive grounds.
“June should be a volatile month for the ASE since important decisions will be taken for Greece before the month ends regarding the State’s debt and its future financing”, Kyprou Securities said in its morning report.
Market analysts comment that a reversal in the trading pattern is not expected soon, as the rating action by Moody’s brought new uncertainties, while European processes on the Greek problem reach a peak.
"The market lost ground today because of the rest of Europe," a local trader told Dow Jones Newswires. "But it΄s also seeing some support at current levels and mostly shrugged off yesterday΄s Moody΄s downgrade
Across the board, the General Index closed with a loss 0.99% at 1,277.23 points, after fluctuated into a margin of about 28 points or 2.18%. Approximately 22.97 million units worth €79.83 million (of which 13.7 million in pre-agreed trade) were traded on Thursday, while a total of 77 shares declined, 43 rose and 161 remained unchanged.
Banks declined by 0.32%, at 952.22 units, with a fluctuation of 3.49%.
MIG topped FTSE20, with profits of 8.62%, PPC followed with gains of 2.00%, while National Bank ended at €4.87%, up 1.46%. Hellenic Petroleum and Motor Oil moved upwards to €6.66 and 8.84%, while Piraeus Bank remained unchanged at €1.02.
On the other hand, OTE and Bank of Cyprus fell by 3.90% and 3.69% respectively, while OPAP and Jumbo declined by 3.03% and 2.08%.
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