ATHEX: Stocks drop, on increased turnover too

ATHEX: Stocks drop, on increased turnover too

Investors at Athinon Avenue made no secret on Wednesday of their displeasure at the handouts announced by Prime Minister Alexis Tsipras late on Tuesday, sending the benchmark of the bourse more than 2 percent lower on increased turnover – the highest in the last five sessions. Bank stocks took a heavy beating, and especially that of Piraeus.

The Athens Exchange (ATHEX) general index closed at 743.01 points, shedding 2.10 percent from Tuesday’s 758.97 points. The large-cap FTSE-25 index contracted 1.93 percent to 1,928.13 points.

The banks index declined 4.03 percent, with Piraeus slumping 7.60 percent, Alpha giving up 4.32 percent, Eurobank conceding 4.26 percent and National shrinking 1.55 percent. Grivalia Properties lost 4.44 percent, Jumbo parted with 4.07 percent and Aegean Air decreased 3.13 percent, while Public Power Corporation advanced 2.29 percent.

In total 25 stocks boasted gains, 80 reported losses and 15 remained unchanged.

Turnover amounted to 62.1 million euros, up from Tuesday’s 42.5 million.

In Nicosia the Cyprus Stock Exchange slipped 0.34 percent to close at 70.23 points.

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