BUSINESS

ATHEX: Profit taking pushes main index off its 12-month high

TAGS: Stocks

The combination of traders cashing in recent gains and Greece’s weaker-than-expected economic data for the first quarter of the year resulted in the majority of stocks at the Greek bourse taking losses on Tuesday.

The Athens Exchange (ATHEX) general index closed at 813.33 points, shedding 2.81 percent from Monday’s 836.84 points. The large-cap FTSE-25 index contracted 2.18 percent to end at 2,083.45 points, while the small-cap index expanded 0.48 percent.

The banks index slumped 8.24 percent, with Piraeus falling 11.19 percent, National sliding 8.13 percent, Alpha shrinking 8.08 percent and Eurobank conceding 7.49 percent. Cenergy Holdings grew 3.59 percent and Coca-Cola HBC added 2.05 percent, while Ellaktor gave up 2.97 percent.

In total 38 stocks posted gains, 65 reported losses and 30 were unchanged.

Turnover eased to 112.8 million euros from Monday’s 137.6 million.

In Nicosia the Cyprus Stock Exchange general index declined 1.78 percent to close at 69.45 points.

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