BUSINESS

Bourse suffers biggest decline in 11 months

Ahead of the introduction of its new shares, National Bank’s 10.74 percent drop dragged Greek stocks to their biggest daily decline in 11 months on Thursday, following Standard & Poor’s report on local banks that despite upgrading their credit rating warned of more capital needs in future, as well as talk that capital gains would be taxed, which also sent Greek bond yields soaring before the Finance Ministry issued a statement quashing the rumors.

The Athens Exchange (ATHEX) general index closed at 1,123.62 points, shedding 4.63 percent from Wednesday’s 1,178.12 points. The large-cap FTSE/ATHEX 25 declined 4.53 percent to close at 362.13 points.

In total 26 stocks went up, 101 came down and 20 stayed put.

Turnover amounted to 440 million euros, three times Wednesday’s 146.9 million.

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