BUSINESS

ATHEX: Folli Follie and Italy put end to rising streak

TAGS: Stocks

Fresh concerns over Italy weighed on most European stock markets on Wednesday, leading to losses of over 1 percent for the benchmark at Athinon Avenue, on particularly low turnover. The ongoing saga concerning Folli Follie is not helping the local market at all, and a prosecutor launched an investigation into the case on Wednesday.

The Athens Exchange (ATHEX) general index ended at 781.05 points, shedding 1.05 percent from Tuesday’s 789.32 points. The large-cap FTSE-25 index contracted 1.14 percent to 2,053.70 points.

The banks index gave up 1.09 percent, with Piraeus losing 1.71 percent, Eurobank dropping 1.55 percent, National conceding 0.77 percent and Alpha slipping 0.76 percent.

Other blue chips suffered greater pressure, as Viohalco decreased 5.83 percent, PPC shrank 3.66 percent and GEK Terna fell 3.09 percent, while Motor Oil improved 1.85 percent.

In total 39 stocks registered gains, 66 reported losses and 23 remained unchanged.

Turnover amounted to 31 million euros, down from Tuesday’s 34.8 million.

In Nicosia the Cyprus Stock Exchange general index declined 0.46 percent to close at 69.84 points.

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