ECONOMY

ATHEX: Euro data and tourism fears see stocks fall

athex-euro-data-and-tourism-fears-see-stocks-fall

Stocks plummeted on Tuesday at Athinon Avenue as traders engaged in aggressive selling, once again led by the banking sector, after the announcement of the 11.8% decline in the eurozone’s gross domestic product in the second quarter of 2020 on a quarterly basis. Greek tourism’s latest woes also played their part.

The Athens Exchange (ATHEX) general index ended at 627.56 points, shedding 2.15% from Monday’s 641.33 points. The large-cap FTSE 25 index also contracted 2.15%, to 1,502.77 points.

The banks index slumped 5.16%, with Eurobank falling 6.31%, National parting with 5.64%, Piraeus dropping 5,01% and Alpha easing 3.57%.

Ellaktor nosedived 14.61%, Viohalco surrendered 3.86%, Hellenic Exchanges conceded 3.61%, GEK Terna gave up 3.31% and Titan Cement slid 3.06%. Mytilineos headed in the other direction, adding 0.56%.

In total 17 stocks bucked the day’s trend to rise, 77 endured losses and 20 remained unchanged.

Turnover was the highest of the last six sessions, amounting to 47.8 million euros, against Monday’s €30.2 million.

In Nicosia, the general index of the Cyprus Stock Exchange decreased 0.72% to 44.03 points.