ECONOMY

Fresh wave of losses takes index under 1,000 points

With the exception of Piraeus Bank, credit sector stocks were largely responsible for dragging the Greek bourse’s benchmark index back below the 1,000-point mark on Tuesday. The question now is what kind of reception Alpha Bank’s new stock can expect to receive when it begins trading later this month.

The Athens Exchange (ATHEX) general index closed at 981.50 points, giving up 2.78 percent from Monday’s 1,009.57 points. The large-cap FTSE/ATHEX-25 index contracted 3.14 percent to end at 332.34 points.

Piraeus was the only blue chip to go up on Tuesday, adding a significant 7.14 percent. Marfin Investment Group was the worst off (down 7.36 percent), ahead of Viohalco (down 6.28 percent) and Alpha (down 6.20 percent), as banks slumped 3.38 percent.

In total 37 stocks registered gains, 125 suffered losses and 19 stayed put.

Turnover came to 72 million euros, down from Monday’s 78.3 million.