ECONOMY

Stocks edge up, turnover sinks further

The main index of the Greek bourse inched up on Tuesday, which observers described as a correction following the significant decline seen on Monday. Turnover dropped to a four-day low.

The Athens Exchange (ATHEX) general index ended at 1,437.28 points, growing by 0.69 percent from Monday?s close at 1,427.49 points. The blue chip FTSE/ATHEX 20 index expanded by 1.02 percent to end at 652.14 points, although the small-cap FTSE/ATHEX 80 index declined by 0.16 percent.

The market seems to have been unimpressed by the privatization package presented on Friday and will need a major shock in order to get back onto a rising trajectory.

OTE telecom led the blue chips with gains of 3.13 percent, followed by Viohalco, Ellaktor, Bank of Cyprus (all up by 2.16 percent) and Alpha Bank (2.09 percent). Public Power Corporation was the worst off, declining by 3.05 percent, while Mytilineos gave up 1.74 percent.

In total, 77 stocks moved up, 72 went down and 43 remained unchanged. Alapis posted the biggest rise with gains of 12.50 percent, while Imperio led the losers, shedding 18.52 percent.

Turnover came to just 84.8 million euros, down from 91.5 million on Monday.