negative developments in Japan and the growing concern among international exchanges.
Banks were forced to a 5.3% fall, following yesterday’s big gains, while the General Index fell off 1600 units, ending at session’s low.
The nuclear accident in Japan triggered a surge of consolidation in Tokyo Stock Exchange, which weighed heavily on Asian and European markets.
The domestic market couldn’t resist the temptation of profits, following yesterday’s impressive upward course, according to analysts.
However, they expect the Athens Exchange to recover in the near future, helped by the favourable decisions in the European Summit last Saturday, since the course of foreign indices stabilizes.
Analysts also noted that signs of improvement were recorded in the bond market with the narrowing of Greek government bond spread, while volatility is expected to remain high, ahead of the Triple Witching on Friday.
"The scale of the developments in Japan is going to put a brake on world growth," an analyst told Dow Jones Newswires. "That΄s going to continue weighing on the market." But he added that the market could see some near term support at current levels.
Across the board, the General Index moved in negative territory throughout the trading session, ending at 1590.44 points, down 4.33%. Approximately 40.3mn units worth EUR 159.53mn were traded on Tuesday, while a total amount of 141 shares declined, 106 remained unchanged and 37 rose.
Banks ended at 1365.42, down 5.29%. Alpha Bank, Geniki Bank, Attica Bank and Bank of Cyprus suffered losses of more than 6%, while Proton Bank, Eurobank, Piraeus Bank and National Bank fell by 5.81%, 5.64%, 5.03% and 5.01% respectively.
Across FTSE20, Ellaktor and Coca-Cola 3E fell by 5.42% and 4.94% respectively, while PPC and Motor Oil declined by 3.91% and 3.64% respectively.
source: CAPITAL
