Stocks resume downward slide
The Big Cap index fell 0.82 pct, the Mid Cap index ended 2.13 pct down and the Small Cap index fell 1.46 pct. The Construction (1.65 pct), and Raw Materials (0.86 pct) were the only sectors to post gains, while Commerce (-4.77 pct), Utilities (3.67 pct) and Travel (3.41 pct) sectors suffered the heaviest percentage losses of the day. Titan (2.07 pct), Mytilineos (1.69 pct) and Eurobank (1.20 pct) were the blue chip stocks with the highest gains, while Viohalko (-5.03 pct), Motor Oil (-5.00 pct) and Folli Follie (-4.71 pct) were top losers. amna
Broadly, decliners led advancers by 71 to 37 with another 22 issues unchanged.
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PRIMARY SURPLUSThe Greek government on Tuesday reported a primary budget surplus of 2.532 billion euros in the first nine months of the year, slightly down from a primary surplus of 2.632 billion euros in the corresponding period in 2013
FINANCIAL MARKETSGreek stocks and bonds showed strong signs of recovery after three days of selling pressure on Friday, buoyed up by the prime minister's statement in Milan that Greece was discussing a precautionary credit line with its creditors.
FINANCE MINISTERFinMin Hardouvelis: The biggest problem for the Greek economy is the political climate and the uncertaintyFinance Minister Gikas Hardouvelis referred to the change of Greece's relationship with the IMF, the increase of the spreads
TAXESThe high taxation imposed on businesses in the tourism sector increases cost and has a negative effect on demand