In a session that reminded strongly of Wednesday’s course, banks dissipated profits of 2.6%, after a fluctuation of 4%, posting even losses of 1.55%.
Similarly, General Index and FTSE20 couldn’t steer clear of new lows. Motor Oil topped the two indices, recording profits of 3.50%, at €8.86, close to session high. Coca Cola 3E also ended in green, while ATE, MIG, Hellenic Petroleum and Viohalco moved downwards by more than 3%.
"The market was up earlier, but ended down as investors closed out positions," a local trader told Dow Jones Newswires, adding that the index could slip below 1300 over the next few days.
Increased volatility and market’s inability to maintain a positive sign are indicative of investors’ nervousness, which continue to move in the short-term in the domestic market, according to Pegasus Securities morning report.
Marfin Analysis stated that volatility should persist with the risk lying to the downside.
Market analysts don’t rule out a short-term upward correction, but note that nervousness will persist ahead of the announcement of medium-term financial stability program.
Across the board, the General Index closed at 1,322.27 units, down 0.44%, recording a new 14-year low. Approximately 24.1 million units worth €90.65 million were traded on Thursday, while a total amount of 73 shares declined, 64 rose and 144 remained unchanged.
Banks declined by 0.50%, at 975.08 units. Only Bank of Cyprus and National Bank ended in positive territory, with profits of 0.91% and 0.42%. On the other hand, ATE fell by 3.77%, while Eurobank and Alpha Bank suffered losses of 2.40% and 2.27% respectively.
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