ECONOMY

Bourse loses steam as most blue chips yield ground

After clocking up early gains on Tuesdat, the Greek benchmark ran out of steam and yielded some ground, although many peripheral stocks held on to their winnings.

The Athens Exchange (ATHEX) general index closed at 1,234.62 points, shedding 0.85 percent from Monday’s 1,245.15 points. The blue chip FTSE/ATHEX 25 contracted 1.09 percent to 397.95 points, but mid-caps posted growth of 0.05 percent and small-caps expanded by 1.07 percent.

Observers point to tomorrow’s anticipated statements by European Central Bank chief Mario Draghi, stressing that if they are deemed unsatisfactory they could lead to a significant slide in stock prices.

Folli Follie outperformed, adding 2.07 percent, while OTE telecom gave up 3.48 percent.

In total 50 stocks posted gains, 86 suffered losses and 17 stayed unchanged. Turnover reached 154 million euros, down from Monday’s 227.5 million.