BUSINESS

ATHEX: Bank stocks drag bourse index lower

TAGS: Stocks

Bank stocks have given up almost 5 percent in the year’s first two sessions, leading the benchmark to a fresh drop on Tuesday in spite of the growth recorded by other blue chips and mid-caps on increased turnover.

The Athens Exchange (ATHEX) general index closed at 617.59 points, contracting 0.57 percent from Monday’s 621.12 points. The large-cap FTSE 25 index slipped 0.89 percent to close at 177.31 points, but mid-caps rose 0.36 percent, while overall, the number of northbound stocks surpassed the losers on the day.

The banks index gave up 2.32 percent, as Alpha Bank declined 4.56 percent and National dropped 4.24 percent, while Eurobank closed unchanged and Piraeus advanced 1.08 percent.

Among other stocks the EYDAP water company outperformed with a 4 percent rise, ahead of Grivalia Properties, which climbed 2.16 percent, and Viohalco, which expanded 1.83 percent. Folli Follie lost 4.08 percent and Mytilineos decreased 1.10 percent.

In total 50 stocks reported gains, 41 sustained losses and 20 remained unchanged.

Turnover amounted to 82.8 million euros, the highest in the last three sessions, up from Monday’s 58.7 million.

The stock exchange will remain closed on Wednesday, due to the Epiphany holiday, and reopen on Thursday.

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