ΑΤΗΕΧ: Banks lead biggest drop in 2.5 months
Stocks suffered considerable losses at Athinon Avenue on Tuesday, with traders targeting specific blue chips, which had a knock-on effect on most other stocks. This was the biggest daily fall for the benchmark since early August. The reports by Morgan Stanley and Goldman Sachs brought down their target prices for Greek bank stocks, which sent daily turnover to its highest level in the last nine sessions due to the intention of many traders to sell.
The Athens Exchange (ATHEX) general index closed at 1,414.65 points, shedding 1.67% from Monday’s 1,438.72 points. The large-cap FTSE-25 index contracted 2.02%, ending at 3,432.18 points.
The banks index declined 2.29%, as Piraeus fell 3.74%, Eurobank eased 2.99%, Alpha conceded 2.40% and National parted with 0.91%. PPC lost 4.09%, Viohalc shrank 3.80% and Cenergy Holdings gave up 3.15%.
In total 19 stocks reported gains, 86 took losses and 15 remained unchanged.
Turnover amounted to 132 million euros, up from Monday’s €83.3 million.
In Nicosia, the general index of the Cyprus Stock Exchange increased 0.09% to close at 198.33 points.
