ECONOMY

Worries take toll on stocks

The 7 percent drop that the Israeli stock market?s main index registered on Sunday does not bode well at all for the Greek bourse at the start of the new week, having taken a heavy beating last week due to the uncertainty in the eurozone as well as the United States.

The FTSE/ATHEX general index closed on Friday at 1,062 points, following a weekly loss of 11.81 percent, while the blue chip FTSE/ATHEX 20 index declined by 12.74 percent week-on-week.

The 10-day streak of losses may lead to a correction at the start of the new week, but there are hardly any signs that would encourage investors to put their money in Greek stocks that are registering one 14-year low after another.

The local market?s average daily turnover posted a clear rebound last week, but that was only because sellers are eager to disengage themselves as the eurozone debt crisis seems to be going from bad to worse.