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Stock market experiences flight of foreign investors

Local stocks continued their southbound course on Tuesday as foreign portfolios proceed with their disengagement from the Greek market, while the delays in the privatization timetable are hurting state corporations more than ever.

The Athens Exchange (ATHEX) general index ended the day at 535.96 points, declining by 1.58 percent from Mondays closing figure of 544.56 points. The blue chip FTSE/ATHEX 20 index gave up 1.50 percent to end at 199.77 points.

Alpha Bank outperformed with gains of 2.92 percent, while Motor Oil slumped 8.63 percent and Cyprus Popular Bank contracted by 5.98 percent.

In total, 47 stocks recorded gains, 62 posted losses and 22 remained unchanged.

Turnover amounted to 42.2 million euros, against Mondays 27.8 million.

ekathimerini.com , Tuesday May 22, 2012 (22:38)  
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