ATHEX: Monday’s stock gains reversed
On a day of reduced turnover, the Greek stock market recorded losses on Tuesday following two days of growth, in what seemed like a full reversal of Monday’s rebound. More than just cashing in on recent gains, traders sent bank prices into a nosedive, partly due to the downgrade of JP Morgan’s guidance on Greek stocks from “buy” to “neutral.”
The Athens Exchange (ATHEX) general index closed at 1,407.03 points, shedding 0.97% from Monday’s 1,420.83 points. The large-cap FTSE-25 index contracted 1.03%, ending at 3,422.41 points.
The banks index declined 2.11%, on National giving up 3.10%, Piraeus conceding 2.01%, Alpha parting with 1.95% and Eurobank losing 1.29%.
Viohalco fell 2.72%, Aegean Airlines diminished 2.51%, ElvalHalcor shied 1.90% and Athens International Airport was down 1.68%, while Sarantis earned 2% and OTE telecom added 0.37%.
In total 39 stocks secured gains, 61 endured losses and 21 remained unchanged.
Turnover amounted to 78.3 million euros, down from Monday’s €118.3 million.
In Nicosia, the general index of the Cyprus Stock Exchange increased 0.77% to close at 162.74 points.
