ECONOMY

ATHEX: Stock market concerned over EU attitude

athex-stock-market-concerned-over-eu-attitude

European slaps on Athens’ wrist over handouts by the previous government that are seen endangering the budget’s targets, inflicted extensive losses on Greek stocks on Tuesday, and came hand-in-hand with a rise in Greek bond yields. Sazka’s public offering for OPAP shares it does not own did not help prices either.

The Athens Exchange (ATHEX) general index closed at 840.58 points, shedding 4.28 percent from Monday’s 878.17 points. The large-cap FTSE-25 index contracted 4.12 percent to end at 2,112.37 points, though small-caps fell only 0.97 percent.

The banks index slumped another 6.41 percent, as Piraeus lost 10.30 percent, Alpha conceded 6.98 percent, Eurobank shrank 5.09 percent and National slipped 4.58 percent.

Lamda Development gave up 6.97 percent and Public Power Corporation shied 6.95 percent, as all blue chips ended up on the losing side.

In total 18 stocks reported gains, 97 registered losses and 15 remained unchanged.

Turnover amounted to 101.9 million euros, up from Monday’s 91.6 million.

In Nicosia the general index of the Cyprus Stock Exchange declined 1.21 percent to close at 71.17 points.