ECONOMY

Initial stock gains give way to losses

The local bourse?s main index fell on Tuesday for the seventh session in a row, although the day had started with moderate gains. Total losses since March 27 now stand at 8.18 percent.

The Athens Exchange (ATHEX) general index ended at 1,489.46 points, dropping by 0.20 percent from Monday?s close at 1,492.44 points, despite temporary gains of up to 0.77 percent during the course of the session. The blue chip FTSE/ATHEX 20 index contracted by 0.14 percent to end at 682.58 points.

Bank of Cyprus and OTE helped limit losses toward the end of trade with gains of 3.28 percent and 1.32 percent respectively. Marfin Popular Bank also gained 1.18 percent.

Piraeus Bank was the worst off among the blue chips, shedding 2.29 percent; Titan cement followed with losses of 1.73 percent. National Bank dropped below the 6-euro level, closing at 5.94 euros after a 1 percent decline.

In total, 69 stocks moved up, 82 went down and 53 remained unchanged. Vivere led the gainers for a third consecutive session, registering an impressive 27.40 percent rise, while Edrasi posted the biggest loss, amounting to 14.29 percent.

Turnover came to just 79.9 million euros, up from 107.1 million on Monday.