National leads stock market to more losses

The steep drop posted by National Bank stock dragged the rest of the local bourse lower on Thursday, although the benchmark managed to claw its way back up from a 4 percent slide to contain losses to just over 1 percent at the end of the session.

The Athens Exchange (ATHEX) general index closed at 826.81 points, shedding 1.17 percent from Wednesday’s 836.58 points. The large-cap FTSE/ATHEX-25 index contracted by 1.35 percent to 276.25 points.

National’s stock and warrant took a serious beating as the investors who had thought they might reap short-term gains decided to sell, leading to a 24.37 percent drop for the stock and a 79.38 percent slump in the warrant’s price.

In total, 62 stocks went up, 68 recorded losses and 21 stayed put.

Turnover came to 71.3 million euros.