ECONOMY

Local stocks continue to head south

Greek stocks continued their downward trajectory on Tuesday as investors found little encouragement to buy shares on the local market, particularly in terms of blue chips.

The Athens Exchange (ATHEX) general index ended at 1,412.84 points, declining by 1.14 percent from Monday?s close at 1,429.12 points. The blue chip FTSE/ATHEX 20 index dropped by 1.42 percent to end at 636.97 points. Nevertheless, just as on Monday, the small-cap FTSE/ATHEX 80 index remained in positive territory, climbing by 1.10 percent.

It is only disparate stocks such as Babis Vovos, Intracom and Kyriakidis that for a variety of reasons continued their upward course, bucking the trend set by the mood regarding the country?s finances.

Only two blue chips posted gains: Ellaktor added 2.86 percent and Coca-Cola HBC rose by just 0.05 percent. Eurobank EFG declined by 3.98 percent, followed by Viohalco (down 3.75 percent) Piraeus Bank (3.37 percent), Jumbo (3.22 percent) and Alpha Bank (2.84 percent).

In total, 70 stocks moved up, 71 went down and 46 remained unchanged. Construction group Babis Vovos had the biggest rise with gains of 19.30 percent, while General Commercial led the losers, shedding 19.23 percent.

Turnover came to 72 million euros, up from 56.7 million on Monday.