ECONOMY

Correction for index after Monday’s year-high

The local benchmark swung in and out of positive territory for much of Tuesday’s session before settling for a decline of just over half a percentage point after Monday’s year-high, with significant pressure on bank stocks.

The ATHEX general index closed at 1,220.98 points, shedding 0.59 percent from Monday’s 1,228.23 points.

The large-cap FTSE/ATHEX 25 contracted 0.72 percent to end at 401.42 points.

The fact that the main index has finally cleared the 1,200-point barrier after a long time is seen as a sign of more growth toward the end of the year.

The banks’ index dropped 4.34 percent on Tuesday, with Alpha remaining in the red throughout the day before closing with losses of 6.06 percent. There appeared to be a seller keen on liquidating his Alpha warrants.

Folli Follie outperformed, adding 5.30 percent, followed by Motor Oil, which expanded by 2.68 percent. National Bank gave up 3.93 percent and Piraeus Bank declined 3.64 percent.

In total 66 stocks registered gains, 86 recorded losses and 13 remained unchanged.

Turnover amounted to 136.1 million euros, down from Monday’s 145.7 million.