ATHEX: Banks Drive The General Index Away From 2,700

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Greek market pushed lower for second straight session on Tuesday since the modest gains of the European bourses could not offset liquidation trends in banks.

Despite the positive opening, the General Index closed down 1.33% at 2,652.768.

PPC, which announced 9M net of 642.7 mil. euro, dropped 1.95% at 15.10 euro given that the strong results had already been priced in previous sessions.

The banking index registered a volatile session on a fluctuation range of 4.04%, before ending at 3,547.02.

Eurobank and NBG closed at intraday low prices, with Marfin popular Bank, Attica Bank, Piraeus Bank and Bank of Cyprus also under severe pressure.

Bank of Greece, Emporiki Bank and Marfin Egnatia Bank were the only composites to register positive signs.

125 stocks dropped against 85 rising and 88 that remained unchanged on a total turnover of 196.95 mil. euro.

FTSE40 advanced 0.05% while and FTSE80 and FTSE20 dipped 1.87%.

Titan added 1.46% followed by CCH (+0.93%), MOH (+0.84%) and ELPE (+0.48%).

OPAP and Viohalco posted smaller gains at 17.64 euro na d 4.74 euro while Alpha Bank remained unchanged at 11.60 euro.

Eurobank and NBG slipped 4.13% and 3.63% at 10.45 euro and 24.68 euro, Marfin Popular Bank slowed 3.48% with Intralot and Piraeus Bank dropping 2.91% and 2.59%.

Bank of Cyprus (-2.30%), Ellaktor (-2.18%), PPC (-1.95%), Hellenic Postbank (-1.02%) all retreated with HTO, MIG, ATEBank and Mytilineos posting smaller losses.

ATHEX: Banks Drive The General Index Away From 2,700

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