The fear of inflation, fueled by the fresh hike in global oil rates, weighed on Greek stocks on Tuesday, even if the early drop was eventually contained to leave the benchmark with a relatively small bruise at closing – with refinery stocks predictably having a good day. The return of the daily turnover to normal levels reveals that the decline was due to the withdrawal of buyers and not to any aggressive moves by sellers.
The Euronext Athens (ATHEX) general index closed at 2,657.05 points, shedding 0.75% from Monday’s 2,677.26 points. The large-cap FTSE-25 index contracted 0.78% to end at 6,794.11 points.
The banks index conceded 0.57%, with CrediaBank losing 2.25%, Optima giving up 1.41%, Piraeus and Bank of Cyprus dropping 1.31%, Alpha dipping 0.61% and National easing 0.27%, while Eurobank advanced 0.41%. Motor Oil grew 3.16%.
In total, 21 stocks secured gains, 82 endured losses and 19 remained unchanged.
Turnover amounted to €257 million, down from Monday’s €801.3 million.
