BUSINESS

ATHEX: Subdued session ends in losses

TAGS: Stocks

The negative mood resulting from the withdrawal of draft legislation on strike action, the cancellation of Wednesday’s property auctions and weak growth data for the third quarter of the year prompted a second day of losses for most stocks at Athinon Avenue on Tuesday.

The Athens Exchange (ATHEX) general index ended at 730.43 points, shedding 1.54 percent from Monday’s 741.84 points. The large-cap FTSE-26 index contracted 1.61 percent to 1,904.77 points.

Banks slumped 4.31 percent as Alpha shrank 4.91 percent, Piraeus gave up 4.31 percent, Eurobank dropped 4.02 percent and National declined 3.73 percent.

Energy stocks took quite a beating too, with PPC falling 3.65 percent, Motor Oil sliding 2.35 percent and Hellenic Petroleum slipping 1.23 percent. Grivalia Properties outperformed, adding 0.96 percent.

In total 35 stocks recorded gains, 59 saw losses and 27 stayed put.

Turnover was the lowest of the last five sessions, amounting to 43.2 million euros, down from Monday’s 52.2 million.

In Nicosia the Cyprus Stock Exchange general index edged up 0.60 percent to 70.81 points.

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