ECONOMY

ATHEX: Half-hearted recovery at stock market

athex-half-hearted-recovery-at-stock-market

The stock market’s reaction after three days of losses proved half-hearted on Tuesday, as the early recovery was contained later on, with most bank stocks posting losses. Some traders will have decided to save some of their liquidity for the new 10-year bond issue, which Greece announced on Tuesday halfway through the trading session.

The Athens Exchange (ATHEX) general index ended at 764.70 points, adding 0.34% to Monday’s 762.13 points. The large-cap FTSE 25 index expanded 0.28% to close at 1,820.86 points.

The banks index contracted 0.91%, as National tumbled 2.30%, Eurobank fell 0.70% and Alpha eased 0.26%, while Piraeus earned 0.78%.

ADMIE Holdings improved 1.64%, Sarantis climbed 1.46%, Terna Energy collected 1.45% and Mytilineos increased 1.16%, as Ellaktor declined 3.46% and Lamda Development parted with 0.77%.

In total 62 posted gains, 35 endured losses and 22 remained unchanged.

Turnover amounted to 49.3 million euros, down from Monday’s €72.5 million.

In Nicosia, the general index of the Cyprus Stock Exchange decreased 0.16% to close at 56.25 points.