ECONOMY

Early gains evaporate by session?s end

Most of the gains stocks had shown by midday evaporated by the end of the bourse session on Tuesday, as the market was shaken by the investigation on illegal stock trading practices regarding the failed National Bank and Alpha merger last month.

The Athens Exchange (ATHEX) general index closed at 1,579.85 points, growing by 0.19 percent from Monday?s closing at 1,576.86 points. in mid-session the index had posted gains of up to 2.03 percent. The blue chip FTSE/ATHEX 20 index actually fell by 0.40 percent to end at 731.40 points.

Alpha Bank led gainers among blue chips with a 4,58 percent rise, followed by Titan cement (up 4 percent), Public Power Corp (3.93 percent) and Mytilineos (1.73 percent). Heading down were Marfin Investment Group (7.95 percent), Marfin Popular Bank (4.95 percent), Piraeus Bank (4.24 percent) and Bank of Cyprus (3.21 percent).

In total, 79 stocks moved up, 90 went down and 41 remained unchanged. Ridenco led those rising with a 14.29 percent growth, while Intrakat posted the biggest loss, amounting to 15.08 percent.

Turnover came to 132.2 million euros, down from Monday?s 137.4 million euros.