BUSINESS

ATHEX: Benchmark comes off high

TAGS: Stocks

As signs had shown on Monday, stocks on the Greek bourse confirmed on Tuesday that they have run out of steam – at least for the short term – suffering sizeable losses as the benchmark fell from a 28-month high. The quality of the drop points to it being more than a mere correction after the recent gains.

The Athens Exchange (ATHEX) general index closed at 848.07 points, shedding 1.17 percent from Monday’s 858.08 points. The large-cap FTSE-26 index declined 1.12 percent to 2,201.83 points.

The banks index shrank 2.53 percent as Attica lost 4.96 percent, Piraeus fell 4.21 percent, Eurobank dropped 2.94 percent and National decreased 2.70 percent.

Besides banks, the blue-chip index was dominated by the slide of Viohalco (3.75 percent) and the rise of Motor Oil (0.98 percent).

In total 37 stocks showed gains, 74 took losses and 17 closed unchanged.

Turnover amounted to 78.8 million euros, up from Monday’s 52.3 million.

In Nicosia the general index of the Cyprus Stock Exchange had a parallel course to that of ATHEX, contracting 1.16 percent to close at 75.26 points.

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