ATHEX: Stocks contain earlier decline

ATHEX: Stocks contain earlier decline

The distance between the positions of the International Monetary Fund and the eurozone on the Greek debt before the start of Tuesday’s Eurogroup meeting in Brussels led the Athens bourse benchmark to significant losses through most of the day on Tuesday. However, some statements by eurozone officials and the rally seen in the first half-hour of trading on Wall Street contained the Greek decline, with stocks covering some ground during the closing auctions.

The Athens Exchange (ATHEX) general index closed at 642.08 points, shedding 1.08 percent from Monday’s 649.10 points. The large-cap FTSE 25 index contracted 1.83 percent to end at 182.27 points.

The banks index covered half of its midday losses (down 7.92 percent) to close with a 3.94 percent decline. National gave up 6.06 percent and Alpha dropped 4.14 percent.

Among other blue chips constructors Lamda Development expanded 4.39 percent and Ellaktor grabbed 2.96 percent, as Terna Energy fell 2.33 percent.

In total 38 stocks showed gains, 59 took losses and 12 closed unchanged.

Turnover amounted to 159 million euros, down from Monday’s 170.2 million.

In Nicosia the general index of the Cyprus Stock Exchange declined 0.40 percent to close at 67.82 points.

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