ECONOMY

ATHEX index drops to new 31-month low

The benchmark of the Greek bourse on Tuesday recorded a new 31-month low as many investors appear to be disengaging themselves from the ominous conditions of the local market.

The Athens Exchange (ATHEX) general index ended at 704.74 points, shedding 3.33 percent from Monday’s 728.98 points.

The large-cap FTSE/ATHEX 25 index contracted 2.75 percent to close at 208.31 points.

Observers note that the decline that started in early December, when the country entered a pre-election period, now stands at 31.2 percent for the benchmark and 23.3 billion euros in total stock value.

There were losses of more than 10 percent for Ellaktor (down 12.88 percent), Public Power Corporation (11.34 percent) and Athens water utility EYDAP (10.56 percent), while Alpha (up 3.81 percent) and Coca-Cola HBC (1.08 percent) were the only blue chips to head north.

In total 36 stocks posted gains, 82 registered losses and 17 stayed put.

Turnover climbed to 106.6 million euros, from Monday’s 72.9 million.