ATHEX: US figures take toll on local stocks

The higher-than-expected August inflation data announced in the US on Tuesday reversed the positive course of European markets, including that of Greece, leading the benchmark at Athinon Avenue to notable losses at the closing despite the early euphoria from the favorable JPMorgan report on local banks. That ended the three-day streak of gains that lasted till Monday.

The Athens Exchange (ATHEX) general index closed at 840.81 points, shedding 1.07% from Monday’s 849.89 points. The large-cap FTSE-25 index contracted 1.34% to end at 2,023.59 points, while mid-caps slipped 0.01%.

The banks index declined 2.49%, as Alpha parted with 3.67%, National gave up 3.37% and Eurobank conceded 1.64%, but Piraeus edged up 0.18%.

Oil stocks continued their slide, as Hellenic Petroleum shrank 3.04% and Motor Oil surrendered another 3.02%.

In total 37 stocks posted gains, 61 recorded losses and 23 remained unchanged.

Turnover amounted to 57.3 million euros, up from last Monday’s €50.2 million.

In Nicosia, the general index of the Cyprus Stock Exchange decreased 0.27% to close at 74.27 points.