STOCKS

ATHEX: Piraeus Bank stock drops 22% again

athex-piraeus-bank-stock-drops-22-again

The stock of Piraeus Bank tumbled for the third day in a row on Friday, sending the entire Greek bourse lower again against a backdrop where most European stock markets posted losses too. Therefore the second half of the week reversed the weekly trend to inflict losses of almost 2% on the benchmark compared to the previous Friday.

The Athens Exchange (ATHEX) general index ended at 833.07 points, shedding 1.36% from Thursday’s 844.56 points. On a weekly basis it declined 1.97%.

The large-cap FTSE 25 index contracted 1.41% to close at 2,004.43 points, but mid-caps improved 0.40%.

The banks index dropped 3.43%, as Piraeus parted with 21.95%, National fell 2.57%, Eurobank lost 2.51% and Alpha slid 2.37%.

Terna Energy eased 4.89%, Hellenic Petroleum gave up 4.68% and Hellenic Exchanges decreased 3.47%, while Public Power Corporation grabbed 1.26%.

In total 37 stocks registered gains, 62 suffered losses and 21 remained unchanged.

Turnover amounted to €214.4 million, down from Thursday’s €233.3 million.

In Nicosia, the general index of the Cyprus Stock Exchange increased 0.52% to 60.31 points.