Early gains turn into more stock losses

The relative easing of investor concerns after Sunday’s rather inconclusive local election results gave way to another selling spree on Monday that forced losses of almost 2 percent on the local market’s benchmark, with turnover remaining high.

The Athens Exchange (ATHEX) general index closed at 1,066.54 points, sliding 1.99 percent from Friday’s 1,088.25 points. The large-cap FTSE/ATHEX 25 declined 2.10 percent to close at 342.99 points.

Frigoglass rose 6.31 percent and Marfin Investment Group gave up 6.08 percent.

In total 46 stocks enjoyed gains, 70 posted losses and 16 stayed put.

Turnover came to 304.4 million euros, against Friday’s 318.1 million.