ECONOMY

ATHEX: Index drops to 650 points as stocks keep falling

athex-index-drops-to-650-points-as-stocks-keep-falling

The Greek bourse benchmark headed south for the sixth out of the last seven sessions, since the September 20 general election, on Tuesday, with banks again at the forefront of the selling wave.

The Athens Exchange (ATHEX) general index closed at 650.33 points, shedding 0.67 percent from Monday’s 654.70 points. The large-cap FTSE 25 index contracted 0.71 percent to end at 189.48 points.

Despite Piraeus Bank posting gains of 6.33 percent, the banks sectoral index declined 2.75 percent: Eurobank lost 8 percent, National fell 4.19 percent and Alpha Bank dropped 1.77 percent.

GEK Terna gave up 4 percent and Folli Follie tumbled 3.52 percent, while Lamda Development expanded 3.63 percent and Jumbo grew 2.40 percent.

In total 31 stocks enjoyed gains, 46 sustained losses and 18 closed unchanged.

Turnover amounted to 23.4 million euros, up from Monday’s 18.7 million.