ATHEX: Banks index slumps to historic low

TAGS: Stocks

Developments at Piraeus Bank, with its share capital increase, dominated proceedings at the Greek stock market on Monday, leading the benchmark to significant losses and a dive below the 600-point mark, while the banks index fell to a historic low. The considerable decline (3.7%) in Frankfurt also played its part.

The Athens Exchange (ATHEX) general index ended at 595.97 points, shedding 2.67% from Friday’s 612.32 points. The large-cap FTSE 25 index contracted 2.82% to close at 1,435.89 points.

The banks index sank 8.32% as Piraeus crashed 24.26%, Alpha dropped 7.17%, Eurobank gave up 6.38% and National lost 4.66%.

Ellaktor parted with 6.14%, OPAP decreased 3.70%, Viohalco shied 3.52%, Motor Oil shrank 3.26% and Public Power Corporation slid 3.10%, just as EYDAP grew 0.93%, OTE telecom earned 0.59% and Aegean Air rose 0.53%

In total 14 stocks reported gains, 75 sustained losses and 16 remained unchanged.

Turnover amounted to 69 million euros, up from last Friday’s €33.5 million.

In Nicosia, the general index of the Cyprus Stock Exchange conceded 0.39% to close at 43.20 points.