ATHEX: Local stocks take beating

The pressure was back on stocks at Athinon Avenue on Tuesday, as market concern over Italy is intensifying and local banks remain an easy target for trader speculation.

The Athens Exchange (ATHEX) general index ended at 681.17 points, shedding 1.47 percent from Monday’s 691.30 points. The large-cap FTSE-25 index contracted 1.19 percent to 1,796.06 points.

The banks index conceded 3.97 percent, driven lower by Piraeus, which tumbled 13.23 percent. Eurobank lost 3.08 percent, National dropped 2.95 percent and Alpha gave up 2.24 percent.

Public Power Corporation slumped 6.06 percent, Viohalco sank 3.49 percent, Lamda Development shrank 3.28 percent, Aegean Air was down 2.38 percent and ADMIE Holdings fell 2.29 percent. Jumbo bucked the trend, adding 1.42 percent.

In total 19 stocks recorded gains, 74 suffered losses and 19 remained unchanged.

Turnover amounted to 36.7 million euros, up from Monday’s 29.7 million.

In Nicosia the Cyprus Stock Exchange general index declined 0.77 percent to close at 72.05 percent.