ECONOMY

ATHEX: Most stocks head lower

athex-most-stocks-head-lower

After five days of gains and the buying fatigue recorded late on Monday, stocks at Athinon Avenue recorded notable losses on Tuesday, bucking the trend seen on other eurozone markets, with turnover remaining low. The next couple of days will determine the direction of the market up to the end of the month.

The Athens Exchange (ATHEX) general index ended at 714.44 points, shedding 1.51 percent from Monday’s 725.41 points. The large-cap FTSE-25 index contracted 1.24 percent to 1,865.25 points.

The banks index slumped 4.33 percent, with Piraeus diving 6.07 percent, Alpha declining 5.21 percent, Eurobank losing 4.19 percent and National conceding 1.98 percent.

Motor Oil gave up 4.36 percent. Grivalia Properties was down 4.11 percent, PPC shrank 3.87 percent and GEK Terna fell 3.11 percent, while Sarantis rose 1.14 percent.

In total 31 stocks recorded gains, 60 endured losses and 35 remained unchanged.

Turnover amounted to 41.2 million euros, up from Monday’s 37.6 million.

In Nicosia the Cyprus Stock Exchange general index improved 0.15 percent to 65.10 points.