BUSINESS

Benchmark gives up 2 pct as correction continues

The correction that on Monday brought an end to a seven-day rally for Athens stocks continued on Tuesday, with the benchmark index spending all day in the red to end up with losses of 2 percent. Political bickering over the privatization of the credit sector and a postponement to Eurobank’s share capital increase played a major role in the slide.

The Athens Exchange (ATHEX) general index closed at 1,260.70 points, against Monday’s 1,286.47 points. The large-cap FTSE/ATHEX 25 contracted by 2.08 percent to end at 414.44 points.

Frigoglass led the losers, shedding 5.02 percent, while Marfin Investment Group declined by 4.67 percent. Piraeus Bank grew by 1.72 percent and Piraeus Port Authority inched up 0.84 percent.

In total 53 stocks went up, 96 ended with losses and 14 stayed unchanged.

Turnover reached 94.5 million euros, down from Monday’s 97.8 million.

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