BUSINESS

ATHEX: Local bank stocks begin week with more losses

TAGS: Stocks

The Greek stock market’s banks index slumped to its lowest point in a year on Monday, sliding 4.19 percent on prolonged uncertainty regarding the launch of foreclosures, the handling of bad-loan portfolios and the possibility of yet another recapitalization. This, along with Coca-Cola HBC’s drop, led the benchmark lower for a sixth consecutive day.

The Athens Exchange (ATHEX) general index ended at 717.47 points, shedding 2.27 percent from Friday’s 734.12 points. The large-cap FTSE-26 index contracted 2.73 percent to close at 1,874.35 points.

Attica Bank gave up 5.66 percent, Eurobank lost 5.37 percent, Piraeus decreased 4.04 percent and Alpha was down 4 percent. Coca-Cola fell 3.39 percent while OPAP was the only blue chip to rise, increasing by 0.11 percent.

In total 27 stocks posted gains, 79 took losses and 16 stayed unchanged.

Turnover amounted to 54 million euros, up from 43.2 million on Friday.

In Nicosia the general index of the Cyprus Stock Exchange gave up 0.88 percent to 72.13 points.

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