ATHEX Market Reacts to MSCI Index Changes
Stocks at Athinon Avenue declined on Thursday, as the corporate earnings reports failed to spark buying interest amid a volatile market environment. 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 slipped 0.79%, finishing at 5,042.06 points.
- Mid-cap stocks saw a slight rise of 0.10%.
- The banks sector dropped 1.05%, with National Bank falling 4.40%, Optima declining 2.15%, and Bank of Cyprus losing 1.26%. Alpha Bank, however, rose 1.40%.
Impact of MSCI Index Adjustments
The session was mainly influenced by changes to the MSCI indexes:
- Metlen was removed from the MSCI Standard Greece following its listing on the London Stock Exchange, causing its shares to fall 5.87%.
- Cenergy Holdings and Viohalco entered the MSCI small-cap index, gaining 3.24% and 5.09% respectively.
Overall, 41 stocks gained, 61 declined, and 21 remained unchanged.
Trading Volume and Regional Market
Market turnover rose to 281.2 million euros from Wednesday’s 198.5 million euros. In Nicosia, the Cyprus Stock Exchange general index fell slightly by 0.13% to 280.45 points.
“The MSCI index changes significantly shaped trading patterns today,” analysts noted.
Author’s summary: The MSCI reshuffle triggered a notable shift in the Athens stock market, exposing sector vulnerabilities despite moderate mid-cap resilience and increased trading volume.