ATHEX: Stock prices are affected by regional conditions

ATHEX: Stock prices are affected by regional conditions

Non-bank blue chips contained the earlier losses of the Greek bourse’s main index on Tuesday, but observers note the political change expected on July 7 has already been priced in and the geopolitical tensions off Cyprus, in the Aegean Sea and in the Persian Gulf are making traders cautious.

The Athens Exchange (ATHEX) general index closed at 846.66 points, shedding 0.32 percent from Monday’s 849.35 points. The large-cap FTSE-25 index contracted 0.30 percent to end at 2,162.28 points.

The banks index shrank 1.66 percent, as National fell 1.92 percent, Alpha lost 1.73 percent, Eurobank gave up 1.59 percent and Piraeus declined 1.30 percent. Fourlis slumped 3.50 percent, Viohalco conceded 2.98 percent and PPC dropped 2.85 percent, while Ellaktor earned 3.50 percent.

In total 49 stocks showed gains, 47 posted losses and 29 stayed put.

Turnover amounted to 62.7 million euros, up from Monday’s 54.5 million.

In Nicosia the Cyprus Stock Exchange remained closed due to the funeral of former president Demetris Christofias.

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