ECONOMY

Trader worries send majority of stocks down

A late buying spree at the end of Tuesday’s bourse session in Athens was not enough to avert another day of losses for most stocks and the benchmark index, albeit marginal, as news regarding the approval of the long-overdue release of 1 billion euros in bailout loans to Greece failed to change the mood of concern among traders.

The Athens Exchange (ATHEX) general index closed at 1,146.69 points, slipping 0.02 percent from Monday’s 1,146.88 points. The large-cap FTSE/ATHEX 25 expanded 0.17 percent to end at 376.99 points, but mid-caps suffered a 0.73 percent drop and small-caps fell 1.32 percent.

Investor worries about what the Hellenic Financial Stability Fund (HFSF) will do about the bank warrants it has issued weighed on bank stocks on Tuesday, with Piraeus giving up 2.68 percent, Alpha shedding 0.67 percent and National falling 0.48 percent.

Leading the blue chips was Corinth Pipeworks with gains of 4.59 percent, while Jumbo was the worst off as it shrank by 4.14 percent.

In total 52 stocks recorded gains, 87 registered a decline and 21 remained unchanged.

Turnover amounted to 91.8 million euros, rising from Monday’s 79 million.