ATHEX: Small decline for local stocks

In spite of the significant drop in Greek bond prices and sliding stocks on other European markets, the local bourse only posted a small decline, with losing stocks marginally outnumbering the gainers on Tuesday. It appears the 560-point level is putting up adequate resistance to any further decline in the benchmark, but traders have their eyes firmly fixed on the ongoing negotiations between the government and the country’s creditors.

The Athens Exchange (ATHEX) general index closed at 561.23 points, shedding 0.62 percent from Monday’s 564.75 points. The large-cap FTSE 25 index contracted 1.06 percent to end at 153.27 points, while mid-caps expanded 0.17 percent.

Blue chips presented a mixed picture, with Piraeus Bank adding 2.44 percent and Folli Follie advancing 2.02 percent, while Alpha Bank dropped 3.28 percent, Hellenic Petroleum gave up 2.23 percent, Coca-Cola HBC lost 1.91 percent and Titan Cement conceded 1.89 percent.

In total 40 stocks reported gains, 46 sustained losses and 24 remained unchanged.

Turnover amounted to just 56.1 million euros, up from Monday’s 40.9 million.

In Nicosia the general index of the Cyprus Stock Exchange climbed 0.24 percent to 68.02 points.