ECONOMY

All large-caps decline in fifth losing session

Greek stocks retreated again on Tuesday following the prime minister’s statement that essentially froze the issue of house repossessions, as well as German Finance Minister Wolfgang Schaeuble saying that Greece will need a third bailout program and the liquidation of bank warrants by global funds.

The Athens Exchange (ATHEX) general index gave up 3.33 percent, closing at 896.11 points and bringing the cumulative losses after five straight days of losses to 8.30 percent. The large-caps index was 3.04 percent lower, with all its component stocks heading south – led in turnover by Coca-Cola HBC, which registered the least losses of 0.89 percent to close at 20.10 euros. OTE telecom shed 3.20 percent, ending at 6.65 euros, Public Power Corporation plunged 7.10 percent to 7.20 euros, Piraeus Bank lost 3.30 percent to 0.99 euros and National Bank retreated 4.05 percent to end at 2.84 euros. Alpha Bank fell 1.96 percent, sliding to 0.50 euros. The banks index gave up 3.12 percent, to finish at 101.30 points.

The mid-caps index was 2.73 percent down.

Decliners beat winners 94 to 27, while turnover rose to 50.35 million euros, of which 14.43 million was accounted for by Coca-Cola HBC.