BUSINESS

ATHEX: Stock drop contained by Schaeuble

TAGS: Stocks

The adjournment of the negotiations between the government and the creditors’ mission until after the weekend resulted in the majority of Greek stocks heading lower on Tuesday, but turnover remained below the 50-million-euro level. German Finance Minister Wolfgang Schaeuble’s statement that a deal by the end of April is possible served to contain the losses.

The Athens Exchange (ATHEX) general index closed at 553.43 points, shedding 1.34 percent from Monday’s 560.97 points. The large-cap FTSE 25 index contracted 1.93 percent to end at 150.01 points, but the mid-cap index continued to rise, climbing 0.12 percent.

Piraeus Port Authority expanded for a fourth consecutive session, advancing 1.67 percent. Similarly, Attica Bank posted a third straight day of growth, up 10.66 percent.

Lamda Development continued to benefit from the prospect of the realization of the Elliniko plot development deal, adding 3.36 percent, faring best among blue chips. At the other end was Piraeus Bank, which gave up 6.34 percent.

In total 40 stocks recorded gains, 59 suffered losses and 16 closed unchanged.

Turnover amounted to 45.8 million euros, up from Monday’s 40.6 million.

In Nicosia the general index of the Cyprus Stock Exchange declined 0.25 percent to close at 67.15 points.

Online