ATHEX: MSCI shake-up rattles local stock market
Stocks on Athinon Avenue declined on Thursday, as corporate earnings reports failed to attract investor interest amid ongoing market volatility.
Market Performance
The Athens Exchange (ATHEX) general index closed at 1,998.38 points, down 0.80% from Wednesday’s 2,014.47 points. The large-cap FTSE-25 index dropped 0.79% to end at 5,042.06 points, while mid-cap stocks edged up 0.10%.
- Banks index fell 1.05%
- National Bank declined 4.40%
- Optima dropped 2.15%
- Bank of Cyprus [finance:Bank of Cyprus Holdings Public Limited Company] lost 1.26%
- Alpha Bank [finance:Alpha Services and Holdings S.A.] rose 1.40%
MSCI Index Adjustments
Changes in the MSCI indexes significantly influenced trading activity. Metlen was removed from the MSCI Standard Greece Index following its London Stock Exchange [finance:London Stock Exchange Group plc] listing, while Cenergy Holdings [finance:Cenergy Holdings S.A.] and Viohalco [finance:Viohalco S.A.] were added to the MSCI small-cap index.
- Metlen fell 5.87%
- Cenergy Holdings gained 3.24%
- Viohalco advanced 5.09%
Trading Summary
Overall, 41 stocks recorded gains, 61 declined, and 21 remained unchanged. Total turnover reached €281.2 million, increasing from €198.5 million on Wednesday.
Cyprus Market
In Nicosia, the Cyprus Stock Exchange general index slipped 0.13% to close at 280.45 points.
“The session was dominated by MSCI-related movements, reflecting investor reaction to index restructuring.”
Author’s summary: Greek stocks weakened following MSCI index changes, with volatility high and bank shares among the main decliners.