ECONOMY

Stocks drop as uncertainties overshadow Q3 results

Morning gains turned to afternoon losses for Greek stocks on Tuesday, as the benchmark dropped below the 900-point mark while National Bank’s stock dropped to a historic low of 1.71 euros per share.

The Athens Exchange (ATHEX) general index ended at 892.84 points, shedding 0.87 percent from Monday’s 900.70 points. The large-cap FTSE/ATHEX 25 index contracted 0.95 percent to 289.40 points.

The uncertainty hanging over the next inspection by the country’s creditors, the post-bailout conditions and the political landscape is canceling out the good news emerging from reports of corporate third-quarter results.

Viohalco sank 10.08 percent and Ellaktor declined by 7 percent, while Marfin Investment Group expanded 6.76 percent.

In total 53 stocks showed gains, 64 posted losses and 16 were non-movers.

Turnover amounted to just 70.1 million euros, down from Monday’s 88.1 million.