ECONOMY

Greek bourse takes talks impasse in its stride

Ranging from major losses (down 4.67 percent) to marginal gains (up 0.20 percent), the benchmark of the Greek bourse reflected the various shift in trader sentiment on Tuesday, a day after another inconclusive meeting of eurozone finance ministers on Greek debt.

However, the cool way the market generally responded to the ultimatum presented to Athens by the Eurogroup points to optimism for some form of agreement by the end of the week.

The Athens Exchange (ATHEX) general index eventually closed at 838.63 points, shedding 2.45 percent from Monday’s 859.70 points.

The large-cap FTSE/ATHEX 25 index contracted 3.92 percent to end at 248.05 points, but mid-caps shed just 0.89 percent.

Banks were once more on the receiving end of pressure, with Piraeus falling 9.02 percent, Alpha giving up 8.61 percent and Eurobank sliding 8.13 percent. OPAP gaming company slumped 8.36 percent. On the other hand, Ellaktor expanded 4.57 percent and Terna Energy added 3.01 percent.

In total 47 stocks reported gains, 65 sustained losses and 25 remained unchanged.

Turnover came to 141.2 million euros, up from Monday’s 88.6 million.