BUSINESS

ATHEX: Benchmark tumbles again, reaches new 24-month low

TAGS: Stocks

Creditors’ concerns about delays in the government’s reforms, the continuing selloff in bank stocks, the rise in Greek bond yields and Monday’s  drop on the New York Stock Exchange contributed toward another price slide at Athinon Avenue on Tuesday, when the main index tumbled to a new two-year low at the end of a fifth consecutive loss-making session.

The Athens Exchange (ATHEX) general index ended at 593.05 points, shedding 3.91 percent from Monday’s 617.18 points. The large-cap FTSE-25 index contracted 4.24 percent to 1,548.58 points.

The banks index sank 6.34 percent, with Alpha slumping 7.92 percent, Eurobank falling 5.97 percent, National conceding 4.11 percent and Piraeus losing 3.09 percent.

In total 13 stocks posted gains, 81 registered losses and 22 stayed put.

Turnover amounted to 49.1 million euros, up from Monday’s 36.5 million.

In Nicosia the Cyprus Stock Exchange general index declined 0.11 percent to close at 66.54 points.

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