ECONOMY

Uncertainty hurts stocks

The absence of any concrete developments on the financial front resulting from the European Union summit and the blurry picture as far as Greece?s privatization plans are concerned inflicted losses on the majority of stocks on the local bourse on Monday.

The Athens Exchange (ATHEX) general index ended at 1,611.51 points, falling 0.66 percent from Thursday?s close at 1,622.15 points. The blue chip FTSE/ATHEX 20 index contracted by 0.85 percent to end at 748.56 points.

Titan Cement outperformed among the blue chips with growth of 3.09 percent, while the main index stayed above the 1,600-point level thanks to support from OTE telecom (up 2.79 percent) and Coca-Cola HBC (2.20 percent). On the losing side were Public Power Corporation (5.29 percent), ATEbank (3.70 percent) and National Bank (3.60 percent).

In total, 68 stocks moved up, 85 went down and 51 were nonmovers. Axon Holdings led the gainers with growth of 18.75 percent, while Creta Farm posted the biggest loss (14.98 percent).

Turnover came to 95 million euros.