ATHEX: Greek stocks continue to head south

Greek stocks continued their decline on Tuesday, with the benchmark of the market containing its losses somewhat thanks to the reaction by Coca-Cola HBC (the stock with the highest capitalization on the bourse) and National Bank (following five straight southbound sessions). The banks sector is at the focus of investors ahead of the absorption of Pancreta by Attica and the listing of Bank of Cyprus on September 23.

The Athens Exchange (ATHEX) general index closed at 1,426.10 points, shedding 0.58% from Monday’s 1,434.17 points. The large-cap FTSE-25 index contracted 0.74%, ending at 3,455.85 points.

The banks index underperformed, losing 1.06%, on Piraeus giving up 2.06%, Eurobank parting with 1.59% and Alpha dropping 1.30%, while National improved 0.11%.

CCHBC grew 2.03%, whereas Aegean Airlines eased 2.12% and Ellaktor conceded 2.02%.

In total 29 stocks secured gains, 66 endured losses and 22 remained unchanged.

Turnover amounted to 89.5 million euros, up from Monday’s €57.3 million.

In Nicosia, the general index of the Cyprus Stock Exchange increased 1.53% to close at 185.80 points.