Imported jitters hit ATHEX blue chips hard
Greek stocks fell for the fourth straight session yesterday, in line with foreign markets which came under strong pressure. The announcement of negative US employment data for August, combined with statements by former Fed chairman Alan Greenspan, according to which the recent upheaval in stock markets resembles those of 1987 and 1998, weighed heavily on sentiment abroad and also affected Athens. The Athens Exchange (ATHEX) general index closed 0.91 percent lower at 4,891.32 points, with blue chips hardest hit. The blue chip ATHEX/ FTSE 20 index was 1.24 percent lower, the mid cap FTSE/ATHEX 40 lost 0.20 percent and the small cap FTSE/ATHEX 80 shed 0.27 percent. The FTSE/ATHEX International declined 1.08 percent. Only two of the 20 blue chips headed north. Hellenic Petroleum with gains of 0.97 percent and Coca Cola HBC which nudged 0.06 percent higher. Cosmote and Piraeus Bank were unchanged. In contrast, Hellenic Technodomiki tumbled 4.61 percent, National Bank slumped 2.47 percent, OPAP slid 2.07 percent, Titan declined 1.92 percent and Emporiki Bank shed 1.65 percent. Most market players appeared extremely cautious, given the volatile sentiment in global markets and in view of the general election on September 16. Turnover totaled 780.37 million euros, of which 540.40 million was in block trades.
