ATHEX: MSCI shake-up rattles local stock market
The Athens Exchange (ATHEX) experienced a downward session on Thursday, as corporate results failed to inspire investor confidence amid heightened market volatility.
Market Performance
The ATHEX general index closed at 1,998.38 points, a drop of 0.80% from Wednesday’s 2,014.47 points. The large-cap FTSE-25 index declined 0.79% to 5,042.06 points, while mid-cap stocks rose slightly by 0.10%.
Sector Overview
Banking shares weighed on the market, with the banks index slipping 1.05%. Individual performances varied: National Bank fell 4.40%, Optima Bank declined 2.15%, and Bank of Cyprus lost 1.26%. In contrast, Alpha Bank gained 1.40%.
MSCI Index Adjustments
Market movements were heavily influenced by changes to the MSCI indexes. Metlen was removed from the MSCI Standard Greece after its London Stock Exchange listing. Cenergy Holdings and Viohalco entered the small-cap index, pushing their shares higher.
- Metlen dropped 5.87%
- Cenergy Holdings rose 3.24%
- Viohalco advanced 5.09%
Overall Activity
Overall, 41 stocks gained, 61 decreased, and 21 remained unchanged. Trading turnover reached 281.2 million euros, up from 198.5 million euros the previous day.
Cyprus Market
In Nicosia, the general index of the Cyprus Stock Exchange edged down 0.13% to 280.45 points.
The session reflected investor caution amid MSCI reshuffles and varied corporate results.
Author’s summary: The Athens stock market weakened as MSCI revisions and mixed corporate outcomes shaped a volatile trading day across equities and banking shares.