Stocks start up, but slip in the end

The Athens stock market followed the same pattern Tuesday as previous sessions: trading within a narrow band on low turnover. Although it started positively, with the general index trying to breach 1,440 points, sellers prevailed toward the end.

Overall, investors are taking a wait-and-see attitude, expecting the release of eurozone inflation data that will influence the European Central Bank’s decision on interest rates in September. They are also focused on developments in the Middle East, as well as listed companies’ financial results. The first-half results announced by 21 listed firms so far have raised exectations for more good news.

The general index slipped 0.36% to close at 1,432.46 on turnover of €70.1 million.

Blue chips dropped 0.37% and mid-caps 0.46%.

Just five non-bank blue chips ended with gains: Coca-Cola HBC (1.39%), EYDAP (0.72%), Motor Oil (0.65%), Jumbo (0.44%) and GEK Terna (0.11%).

The biggest drop was recorded by Cenergy, while Viohalco and Titan dropped over 2% and PPC, OTE, Metlen, Autohellas and Sarantis dropped at least 1%.

The bank sub-index dropped 0.16%, with Piraeus Bank dropping most (1.82%).