ATHEX: Index contains slide to 1.7 pct

The massive sell-offs seen on global markets, the euro’s drop against other major currencies, the postponement of the seven-year bond issue, and the growing sense that the Greek government is not as stable as had been thought inflicted major losses on local stocks on Tuesday that were eventually contained toward the end of the session.

The Athens Exchange (ATHEX) general index ended at 838.80 points, shedding 1.74 percent from Monday’s 853.67 points. The large-cap FTSE-25 index contracted 1.84 percent to 2,130.79 points.

The banks index fell just 0.73 percent thanks to a late recovery. Piraeus fell 3.38 percent, Eurobank dropped 0.57 percent, Alpha slipped 0.30 percent while National added 0.13 percent. Sarantis (up 1.04 percent) and Aegean Air (0.91 percent) outperformed.

In total 36 stocks posted gains, 85 took losses and 20 ended unchanged.

Turnover amounted to 117.3 million euros, up from Monday’s 79.5 million.

In Nicosia the Cyprus Stock Exchange general index declined 0.88 percent to 69.54 points.