BUSINESS

ATHEX: Banks fall 8 pct on concerns

TAGS: Stocks

The seventh day of losses in the last eight sessions at the Athens bourse was the most dramatic, with banks shedding more than 8 percent and the benchmark only just managing to stay above the 700-point mark on Thursday, as confidence in the Greek economy and its banking sector in particular continues to ebb.

The Athens Exchange (ATHEX) general index ended at 701.36 points, down 0.19 percent from Wednesday’s 718.80 points. The large-cap FTSE-26 index contracted 2.37 percent to close at 1,830.82 points.

The banks index slumped another 8.04 percent to a new 16-month low, having lost almost a quarter of its value since November 1. Alpha dropped 9.46 percent, Attica gave up 8 percent and Eurobank fell 7.48 percent.

In total 30 stocks rose, 76 declined and nine stayed put.

Turnover amounted to 51.9 million euros, down from 69.1 million on Wednesday.

In Nicosia the general index of the Cyprus Stock Exchange edged up 0.04 percent to 71.78 points.

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