ECONOMY

Athens bourse posts significant losses after holiday break

The Greek bourse reopened on Tuesday after the four-day Orthodox Easter break and posted significant losses at the end of the session as the uncertainty over the negotiations between Athens and its creditors and the storm of scenarios regarding a Greek default created concern among investors regarding the future of the economy.

The Athens Exchange (ATHEX) general index ended at 758.63 points, down 2.24 percent from Thursday’s 776.03 points.

The large-cap FTSE/ATHEX 25 index contracted 2.86 percent to close at 225.89 points while small-caps added 0.47 percent.

Banks fell 8.28 percent after news broke about a European union probe that may force yet another share capital increase on lenders.

Eurobank lost 11.71 percent, Alpha dropped 10.78 percent and Piraeus gave up 7.72 percent, while refineries contained the blue chip index’s losses as Motor Oil expanded 7.42 percent and Hellenic Petroleum added 3.06 percent.

In total 32 stocks recorded gains, 59 reported losses and 17 closed unchanged.

Turnover amounted to 66.9 million euros, up from last Thursday’s 38.8 million.