STOCKS

ATHEX: Steep decline as worries grow

athex-steep-decline-as-worries-grow

The early gains at the Greek stock market gave way to a steep decline for the majority of stocks on Tuesday on global uncertainty that sent share prices sliding, bond yields climbing and commodity rates soaring. It took less than 50 million euros of turnover for the benchmark at Athinon Avenue to lose more than 15 points, closing at the day’s low.

The Athens Exchange (ATHEX) general index closed at 860.03 points, shedding 1.76% from Monday’s 875.43 points. The large-cap FTSE 25 index contracted 1.73% to end at 2,076.92 points.

The banks index sank 1.78%, with Eurobank sliding 2.91%, National falling 2.40%, Piraeus falling 1.21% and Alpha parting with 0.62%.

The only blue chip to head higher was Motor Oil (up 0.52%), as Titan Cement conceded 3.33%, Coca-Cola HBC shrank 3.27% and ElvalHalcor gave up 3.09%.

In total 17 stocks posted gains, 91 endured losses and 15 remained unchanged.

Turnover amounted to €48.5 million, down from Monday’s €50.6 million.

In Nicosia, the general index of the Cyprus Stock Exchange increased 0.92% to close at 67.24 points.