High volatility ends in muted decline as uncertainty remains

Greek stocks dropped further to new multi-year lows in a highly volatile session Tuesday. The pace of decline, however, was markedly muted compared to Monday, as global stocks edged higher on hopes that Greece?s debt crisis will be alleviated.

The Athens Exchange (ATHEX) general index ended 0.5 percent lower at 843.12 points. The blue chip FTSE/ATHEX 20 index slipped 0.10 percent to end at 352.70 points, with banks adding 1.91 percent to finish at 385.11. National Bank added 3.14 percent, closing at 2.96 euros, and Alpha Bank shed 0.63 percent, ending at 1.58 euros. Public Power Corporation surged 4.84 percent to 5.85 euros and Piraeus Bank was 3.57 percent higher at 0.58 euros.

Turnover remained low, at 58.6 million, while 66 stocks moved up, 51 went down and 51 remained unchanged.