BUSINESS

ATHEX: Stock market still in search of direction

TAGS: Stocks

The Greek stock market had a mixed session on Tuesday, in line with most of its European peers, with the majority of stocks posting gains while the benchmark and blue chips declined for a third day in a row. Trading volume remained very low, with observers fearing the Athens bourse has attracted the law of gravity that affects markets deprived of any significant news to keep them going.

The Athens Exchange (ATHEX) general index closed at 642.50 points, shedding 0.37 percent from Monday’s 644.91 points. The large-cap FTSE 25 index contracted 0.49 percent to close at 1,718.42 points, while mid-caps expanded 0.95 percent.

Banks had another day of decline as they gave up 1.20 percent. Alpha conceded 1.59 percent, Piraeus dropped 0.99 percent and Eurobank fell 0.92 percent. PPC outperformed, with growth of 1.74 percent, followed by Sarantis (up 1.52 percent) and Viohalco (1.44 percent). Jumbo lost 1.99 percent and OPAP decreased 1.98 percent.

In total 56 stocks registered gains, 46 sustained losses and 24 remained unchanged.

Turnover amounted to 26 million euros, up from Monday’s 24.5 million.

In Nicosia the general index of the Cyprus Stock Exchange jumped 1.86 percent to close at 70.50 points.

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