ECONOMY

ATHEX: Benchmark drop led by bank stocks

athex-benchmark-drop-led-by-bank-stocks

Bank stocks led the Greek bourse lower on Tuesday, in line with most European markets, as traders chose to cash in the gains recorded in the last couple of sessions at Athinon Avenue. The market is now awaiting Wednesday’s new package of measures aimed at restarting the economy.

The Athens Exchange (ATHEX) general index ended at 601.16 points, shedding 1.37% from Monday’s 609.52 points. The large-cap FTSE 25 index contracted 1.86% to 1,436.74 points.

The banks index slumped 5.70%, as Alpha lost 7.61%, National fell 5.64%, Piraeus parted with 4.59% and Eurobank gave up 4.38%.

Aegean Air declined 5.73%, Titan Cement shrank 4.06%, Coca-Cola HBC decreased 3.46% and Lamda Development conceded 2.91%. Motor Oil bucked the trend, rising 3.20%, while Mytilineos improved 1.39%.

In total 38 stocks registered gains, 45 sustained losses and 30 remained unchanged.

Turnover amounted to 63 million euros, up from Monday’s €34.1 million.

In Nicosia, the general index of the Cyprus Stock Exchange advanced 1.18% to close at 47.07 points.