Greek exchange chief says stock market normalising after rout

The head of the Greek stock market said on Tuesday that trading appeared to be settling down after the previous day's record losses that followed a five-week shut down.

"The second day of trading showed clear signs we are moving towards a normalisation of the market after the long shutdown," said Socrates Lazaridis, chief executive officer of Hellenic Exchanges.

"Of the 25 constituent stocks on the FTSE large cap index, 20 are trading positively. Only the banks are moving negatively," he told a news conference.

The Athens General Index, which shed a record 16.2 percent on Monday, was down 1.3 percent on Tuesday. The banking index was down around 28 percent, however, having hit the 30 percent stop-loss trigger on Monday.

[Reuters]