STOCKS

ATHEX: Stocks slide at start of trading week

ATHEX: Stocks slide at start of trading week

The upcoming rebalancing of the MSCI indexes, the reissue of a seven-year sovereign bond and the major gains of previous days (that were begging to be cashed) weighed on Greek stock prices on Tuesday. Despite buyers’ efforts to keep the benchmark in the black, sellers took the upper hand decisively in the latter half of the week’s first session.

The Athens Exchange (ATHEX) general index closed at 938.93 points, shedding 1.13% from Thursday’s 949.68 points. The large-cap FTSE-25 index contracted 1.31%, ending at 2,282.29 points.

The banks index slumped 2.88%, as Eurobank parted with 3.64%, Alpha gave up 2.97%, Piraeus conceded 2.94% and National was down 1.85%.

Among the other blue chips, Ellaktor declined 4.03%, Lamda Development dropped 3.36%, Viohalco fell 2.81%, Coca-Cola HBC decreased 2.49% and ElvalHalcor conceded 1.93%, while Jumbo earned 2.31% and Motor Oil improved 1.35%.

In total 27 stocks enjoyed gains, 71 suffered losses and 26 remained unchanged.

Turnover amounted to 110.9 million euros, down from last Thursday’s €121.8 million.

In Nicosia, the Cyprus Stock Exchange remained closed.