ECONOMY

Bourse seeks direction as turnover drops to month-low

The Greek stock market continued to lack direction on Tuesday as the benchmark index remained virtually unchanged and turnover dropped considerably, with sellers taking the upper hand in banks and OTE telecom.

The Athens Exchange (ATHEX) general index closed at 1,037.83 points, shrinking by just 0.10 percent from Monday’s 1,038.89 points. The large-cap FTSE/ATHEX-25 index contracted by 0.49 percent to end at 350.02 points.

Marfin Investment Group outperformed, adding 9.59 percent, while Piraeus Bank was the worst off among blue chips, shedding 8.28 percent.

In total 64 stocks reported gains, 79 sustained losses and 22 remained unchanged.

Turnover came to 53.6 million euros, the lowest this month and a far cry from Monday’s 88.7 million, due to the absence not only of National Bank but also the Alpha Bank warrant, which ceased trading.