ATHEX Stocks Decline Amid MSCI Index Adjustments
Shares on Athinon Avenue moved lower on Thursday as corporate earnings failed to inspire buying amid volatile market conditions. The Athens Exchange (ATHEX) general index dropped 0.80%, closing at 1,998.38 points compared to Wednesday’s 2,014.47 points.
Index Performance and Sector Movements
- The FTSE-25 large-cap index fell 0.79% to 5,042.06 points.
- Mid-cap stocks saw a slight increase of 0.10%.
- The banks index declined 1.05%, dragged down by National Bank (-4.40%), Optima Bank (-2.15%), and Bank of Cyprus (-1.26%), while Alpha Bank gained 1.40%.
Impact of MSCI Index Changes
The session was influenced by MSCI index changes. Metlen was removed from the MSCI Standard Greece due to its listing on the London Stock Exchange, causing its shares to drop 5.87%. Meanwhile, Cenergy Holdings and Viohalco were added to the small-cap index, with share gains of 3.24% and 5.09%, respectively.
Market Summary
- 41 stocks recorded gains
- 61 stocks logged losses
- 21 stocks remained unchanged
- Turnover rose to €281.2 million from €198.5 million on Wednesday
Cyprus Stock Exchange
In Nicosia, the Cyprus Stock Exchange general index edged down slightly by 0.13%, finishing at 280.45 points.
"Stocks at Athinon Avenue headed south on Thursday, with the corporate results announced apparently not whetting traders’ appetite for purchases in a climate of high volatility."
Market adjustments related to MSCI indices significantly influenced investor sentiment and trading volume on ATHEX Thursday.
Would you like the tone to be more formal or casual?