BUSINESS

ATHEX: All Tuesday’s stock gains wiped out

TAGS: Stocks

The benchmark of the Athens Exchange (ATHEX) lost all of Tuesday’s gains on Wednesday as concerns over the new Italian government, US-North Korean relations and the eurozone in general also weighed on the weakest link in the bloc and its stock market. The drop was accompanied by a major decline in turnover.

The ATHEX general index ended at 784.93 points, shedding 1.59 percent from Tuesday’s 797.65 points. The large-cap FTSE-25 index contracted 1.63 percent to 2,060.48 points.

The banks index slumped 3 percent, led by Piraeus, which continued its slide (down 5.52 percent), followed by National (3.45 percent), Eurobank (2.84 percent) and Alpha (2.25 percent).

Folli Follie suffered another day of big losses as it gave up 16.47 percent. While Public Power Corporation lost 2.18 percent, its affiliate ADMIE Holdings improved 1.85 percent. Mytilineos fell 2.92 percent and Titan Cement decreased 2.53 percent.

In total 37 stocks reported gains, 67 sustained losses and 28 remained unchanged.

Turnover amounted to 46.3 million euros, down from Tuesday’s 71.4 million.

In Nicosia the Cyprus Stock Exchange general index advanced 0.11 percent to close at 65.91 points.

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