ECONOMY

PPC stock declines to its lowest level ever

Despite gains posted on most other European stock markets, the Greek bourse suffered fresh losses on Tuesday with the main index yet to see a day of growth in the new year.

The Athens Exchange (ATHEX) general index ended the day at 625.35 points, contracting by 1.75 percent from Monday?s closing figure of 636.52 points. The blue chip FTSE/ATHEX 20 index gave up 1.72 percent to close at 237.65 points.

Public Power Corporation shares hit an all-time low, closing at 3.39 euros after shedding 6.61 percent on Tuesday, while Hellenic Petroleum shrank by 6.09 percent. Developments regarding an embargo on oil imports from Iran also saw fellow energy stock Motor Oil lose 5.36 percent.

Piraeus Bank added 0.91 percent and Coca-Cola HBC expanded by 0.54 percent.

In total, 54 stocks registered gains, 94 posted losses and 21 remained unchanged.

Turnover was the highest of the last eight sessions, amounting to 29.4 million euros, up from Monday?s 24.4 million.