Stocks drop as uncertainties overshadow Q3 results
Morning gains turned to afternoon losses for Greek stocks yesterday, as the benchmark dropped below the 900-point mark while National Bank’s stock dropped to a historic low of 1.71 euros per share.
The Athens Exchange (ATHEX) general index ended at 892.84 points, shedding 0.87 percent from Monday’s 900.70 points. The largecap FTSE/ATHEX 25 index contracted 0.95 percent to 289.40 points.
The uncertainty hanging over the next inspection by the country’s creditors, the post-bailout conditions and the political landscape is canceling out the good news emerging from reports of corporate third-quarter results.
Viohalco sank 10.08 percent and Ellaktor declined by 7 percent, while Marfin Investment Group expanded 6.76 percent.
In total 53 stocks showed gains, 64 posted losses and 16 were nonmovers.
Turnover amounted to just 70.1 million euros, down from Monday’s 88.1 million.