ATHEX: Bank stocks, mid-caps take fresh pressure

Jitters ahead of the beginning of the bank stress tests today and the decline seen across eurozone markets led the Greek bourse to losses of more than 2 percent on Tuesday, with the credit sector taking a heavy beating.

The Athens Exchange (ATHEX) general index ended at 868.08 points, shedding 2.08 percent from Monday’s 886.54 points. The large-cap FTSE-25 index contracted 1.57 percent to 2,215.83 points, and mid-caps slipped 3.55 percent.

The Standard & Poor’s report saying that Greek banks are not yet ready for a full recovery did not help the banks index, which slumped a considerable 5.30 percent. Piraeus fell 7.54 percent, Eurobank decreased 6.04 percent, National gave up 4.58 percent and Alpha lost 4.52 percent.

PPC was down 7.27 percent, ADMIE Holdings surrendered 4.09 percent and Viohalco shrank 3.42 percent, just as Coca-Cola HBC grew 1.79 percent and Hellenic Petroleum improved 1.17 percent.

In total 37 stocks recorded gains, 82 sustained losses and 17 remained unchanged.

Turnover amounted to 82 million euros, up from Monday’s 73.4 million.

In Nicosia the Cyprus Stock Exchange general index slipped 0.12 percent to 69.34 points.