ECONOMY

ATHEX slips as Euro peers take a beating

Despite the major declines seen across European markets in the aftermath of the inconclusive Italian election, the Greek bourse only sustained minor losses on Tuesday, while it had even shown some temporary gains during the day.

The Athens Exchange (ATHEX) general index closed at 991.56 points, slipping 0.38 percent from Monday’s closing figure of 995.37 points. The large-cap FTSE/ATHEX-25 index contracted by 0.44 percent, ending at 328.94 points.

The reasons for the autonomous course of the local stock market are to be found in the relatively small leverage that international funds now have in the ATHEX and in the correct guessing by local investors a day earlier when they had already led the stock market lower.

OPAP led the blue chips with gains of 4.62 percent, with Coca-Cola HBC a distant second (up 1.84 percent).

Eurobank Ergasias plummeted again (down 14.81) while National Bank added 1.04 percent as its new shares after its deal for a share exchange with Eurobank are to start trading from Wednesday morning.

In total 40 stocks recorded gains, 106 sustained losses and 19 remained unchanged.

Turnover amounted to 65 million euros, against Monday’s 46.8 million.