BUSINESS

ATHEX: Banks index loses another 4 percent

TAGS: Stocks

Bank stocks fell to new lows on Monday, with their index reaching levels unseen since February 2016. The benchmark of the Greek bourse continued to sink closer to the 600-point mark, which is seen as the last line of defense before a more extensive selling spree.

The Athens Exchange (ATHEX) general index ended at 617.18 points, shedding 1.36 percent from Friday’s 625.69 points. The large-cap FTSE-25 index contracted 1.14 percent to 1,617.10 points.

The banks index slumped another 3.94 percent, hitting a fresh 33-month low. National gave up 5.86 percent, Piraeus conceded 5.27 percent, Alpha declined 3.97 percent and Eurobank dropped 2.06 percent.

All but three blue chips headed south, led by Fourlis (down 3.92 percent), Mytilineos (3.89 percent), Hellenic Exchanges (3.08 percent), Aegean Air (3.02 percent) and Public Power Corporation (2.76 percent). Motor Oil improved 3.32 percent.

In total 14 stocks recorded gains, 71 registered losses and 30 remained unchanged.

Turnover amounted to 36.5 million euros, down from last Friday’s 37.6 million.

In Nicosia the Cyprus Stock Exchange general index advanced 0.18 percent to close at 66.61 points.

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