Pressure from Tech Company Impacts Greek Stocks
On Wednesday, the US saw a decline in Greek stocks due to pressure from a major tech company. This comes as the second-quarter results season kicks off, with companies like Mytilineos and several banks set to report next week. Despite this setback, there is optimism that the benchmark index will soon reach the 1,500-point level, indicating that the market’s growth trajectory remains positive.
Market Performance
The Athens Exchange (ATHEX) general index closed at 1,466.73 points, a 0.91% decrease from the previous day. The FTSE-25 index, which tracks large-cap stocks, also saw a 1.19% decline, closing at 3,576.24 points.
Among the sectors, the banks index took a hit, with Piraeus, Eurobank, Alpha, and National all seeing declines. However, some companies like Titan Cement saw gains, while others like ElvalHalcor, OTE telecom, Motor Oil, and Helleniq Energy experienced losses.
Overall, 20 stocks saw gains, 73 saw losses, and 25 remained unchanged. Turnover for the day amounted to 88.9 million euros, indicating active trading despite the summer season.
Positive Growth in Cyprus Stock Exchange
On Tuesday, the Cyprus Stock Exchange experienced a positive growth, with the general index increasing by 1% to close at 166.04 points. This upward trend in the market was reflected in the overall trading activity, with investors showing confidence in the economy.
The increase in the general index is a positive sign for the financial market in Nicosia, indicating a strengthening economy and potentially attracting more investors. With a closing value of 166.04 points, the market is showing resilience and stability in the face of economic challenges.
