ATHEX: Pressure pushes stocks ever lower

Greek stocks suffered the accumulated pressures of two days on Tuesday, as Athinon Avenue was closed on Monday, with the benchmark losing another 4% of its value and turnover rising to considerable levels.

However, the decline is likely to slow down or even end after Thursday, when local banks start issuing their fourth-quarter results, which will more than likely be quite positive.

The Athens Exchange (ATHEX) general index closed at 789.66 points, shedding 3.90% from Friday’s 821.74 points. The large-cap FTSE-25 index contracted 4.15%, ending at 1,889.19 points.

The banks index dropped 5.03%, as Piraeus parted with 7.01%, Eurobank gave up 6.04%, Alpha lost 5.44% and National fell 1.85%.

Quest Holdings nosedived 11.38%, OTE telecom slumped 7.88%, Coca-Cola HBC shrank 6.55% and Viohalco slid 6.38%.

In total 13 stocks recorded gains, 105 suffered losses and eight remained unchanged.

Turnover amounted to 156.9 million euros, up from Friday’s €108.6 million.

In Nicosia, the general index of the Cyprus Stock Exchange decreased 3.60% to close at 63.49 points.