ECONOMY

ATHEX: Late stock rally takes the edge off early losses

athex-late-stock-rally-takes-the-edge-off-early-losses

The outflow of investors from OPAP, sparked by the Sazka Group’s acquisition of a bigger stake in the Greek gaming company through a public offering, dragged most stocks at Athinon Avenue lower on Tuesday, before a late rally mitigated the benchmark’s losses. Daily turnover was the highest in 23 sessions.

The Athens Exchange (ATHEX) general index ended at 873.34 points, shedding 0.67 percent from Monday’s 879.25 points. The large-cap FTSE 25 index contracted 0.40 percent to 2,166.66 points and the mid-caps index slumped 2.26 percent.

The banks index declined 1.26 percent, as National dropped 1.99 percent, Piraeus shrank 1.75 percent, Alpha gave up 0.91 percent and Eurobank decreased 0.89 percent. OPAP eased 0.52 percent and PPC fell 3.17 percent.

In total 29 stocks posted gains, 66 sustained losses and 30 stayed put.

Turnover amounted to 91.4 million euros, up from Monday’s 55.9 million.

In Nicosia the general index of the Cyprus Stock Exchange edged up 0.03 percent to close at 65.32 points.