ATHEX: MSCI Shake-Up Rattles Local Stock Market
On Thursday, stocks on Athinon Avenue declined as corporate results failed to attract investor interest amid ongoing market volatility.
Market Performance
The Athens Exchange (ATHEX) general index closed at 1,998.38 points, a decrease of 0.80% from Wednesday’s 2,014.47 points. The large-cap FTSE-25 index fell 0.79% to 5,042.06 points, while mid-cap stocks edged up by 0.10%.
Banking Sector
- Banks index fell 1.05%.
- National Bank declined 4.40%.
- Optima dropped 2.15%.
- Bank of Cyprus slipped 1.26%.
- Alpha Bank advanced 1.40%.
MSCI Index Adjustments
Revisions to MSCI indexes influenced the trading session. Metlen was removed from the MSCI Standard Greece index following its listing on the London Stock Exchange.
- Metlen shares dropped 5.87%.
- Cenergy Holdings rose 3.24% after joining the small-cap index.
- Viohalco added 5.09% on similar inclusion news.
Overall Trading Data
Among all listed stocks, 41 gained, 61 declined, and 21 remained unchanged. Total turnover climbed to 281.2 million euros from Wednesday’s 198.5 million.
Regional Market Note
In Nicosia, the general index of the Cyprus Stock Exchange slipped 0.13% to 280.45 points.
“Changes to the MSCI indexes, including Metlen’s removal and new small-cap entries, shaped the day’s trading performance.”
Author’s Summary
The Athens Stock Exchange weakened following MSCI index adjustments, with declining banking shares and selective gains among newly added companies offsetting upbeat turnover.