BUSINESS

ATHEX: Concerns take toll on bank stocks

TAGS: Stocks

Bank stocks suffered significant losses in Athens on Wednesday as concern grew over the bailout review, but other blue chips contained the benchmark’s decline to less than 1 percent at the end of the session.

The Athens Exchange (ATHEX) general index closed at 548.83 points, shedding 0.83 percent from Tuesday’s 553.43 points. The large-cap FTSE 25 index contracted 0.93 percent to end at 148.62 points, while small-caps advanced 0.18 percent.

The banks index surrendered 4.63 percent, as Eurobank slid 8.60 percent, Piraeus Bank fell 6.25 percent, National gave up 5.24 percent and Alpha Bank lost 1.16 percent. Mid-cap Attica Bank shrank 11.85 percent.

Among the other blue chips, Coca-Cola HBC expanded 3.10 percent and Motor Oil added 2.51 percent, while Ellaktor decreased 4.35 percent, GEK Terna dropped 3.61 percent and Hellenic Exchanges conceded 3 percent.

In total 40 stocks enjoyed gains, 56 registered losses and 16 remained unchanged.

Turnover amounted to 44.1 million euros, down from Tuesday’s 45.8 million.

In Nicosia the general index of the Cyprus Stock Exchange declined 0.33 percent to close at 66.93 points.

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