ATHEX: MSCI Changes Impact Athens Stock Market
Stocks on Athinon Avenue declined on Thursday as recently announced corporate results did not encourage buyers amid ongoing market volatility. The Athens Exchange (ATHEX) general index closed at 1,998.38 points, down 0.80% from Wednesday’s 2,014.47 points.
Index Performance
- The FTSE-25 large-cap index decreased by 0.79% to 5,042.06 points.
- Mid-cap stocks showed slight growth, rising 0.10%.
- The banks index dropped 1.05%, with notable changes among major players:
- National Bank declined 4.40%
- Optima decreased 2.15%
- Bank of Cyprus lost 1.26%
- Alpha Bank advanced 1.40%
Impact of MSCI Index Revisions
The session was largely influenced by MSCI index updates, including Metlen's removal from the MSCI Standard Greece index due to its listing on the London Stock Exchange. Meanwhile, Cenergy Holdings and Viohalco were added to the MSCI small-cap index.
- Metlen’s shares dropped 5.87%
- Cenergy Holdings gained 3.24%
- Viohalco rose 5.09%
Overall, 41 stocks gained, 61 declined, and 21 remained unchanged. Trading volume increased to 281.2 million euros from Wednesday’s 198.5 million euros.
Cyprus Market Update
Meanwhile, on the Cyprus Stock Exchange in Nicosia, the general index fell slightly by 0.13%, closing 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.
Author's summary: The MSCI index adjustments and disappointing corporate results triggered declines on the Athens Exchange, with increased trading volume amid market uncertainty.
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