BUSINESS

ATHEX: Another day, another drop for stocks on Athens bourse

TAGS: Stocks

Stock prices continued to decline on Tuesday at Athinon Avenue, with the benchmark and the banks index both ending lower for a third day in a row, as the lack of confidence in the local economy prevailed over Fitch’s positive outlook for the Greek banking sector.

The Athens Exchange (ATHEX) general index ended at 625.31 points, shedding 1.06 percent from Monday’s 632.04 points. The large-cap FTSE-25 index contracted 1.20 percent to 1,644.12 points, while the small-cap index expanded 0.81 percent.

The banks index underperformed again, giving up 3.45 percent: Alpha slumped 4.57 percent, National conceded 3.66 percent, Piraeus declined 2.35 percent and Eurobank was down 1.60 percent. PPC, which cut the power supply to Halyvourgiki on Tuesday, sank 2.68 percent.

In total 36 stocks posted gains, 58 took losses and 25 stayed put.

Turnover amounted to 39.4 million euros, up from Monday’s 32 million.

In Nicosia the Cyprus Stock Exchange general index improved 0.46 percent to close at 66.04 points.

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