BUSINESS

ATHEX: Bank stocks keep sliding

TAGS: Stocks

Greek bank stocks suffered increased pressure on Tuesday, which also had a knock-on effect on other major blue chips, resulting in significant losses for all indexes at Athinon Avenue.

The Athens Exchange (ATHEX) general index ended at 710.24 points, shedding 2.19 percent from Monday’s 726.13 points. The large-cap FTSE-25 index contracted 2.15 percent to 1,868.50 points, while mid-caps eased 0.31 percent.

The banks index completed four consecutive southbound sessions, with cumulative losses of over 13 percent. On Tuesday it gave up 5.87 percent, as National slumped 7.23 percent, Piraeus conceded 6.61 percent, Alpha fell 6.32 percent and Eurobank declined 3.42 percent.

Other losers included Hellenic Exchanges (down 4.49 percent), Public Power Corporation (3.64 percent) and OTE telecom (3.47 percent). Aegean Air climbed 2.56 percent.

In total 32 stocks recorded gains, 65 sustained losses and 18 stayed put.

Turnover amounted to 51.2 million euros, down from Monday’s 59.8 million.

In Nicosia the Cyprus Stock Exchange general index improved 0.32 percent to close at 74.30 points.

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