ECONOMY

Pressure on banks weighs on index

The Greek bourse on Monday continued the mild correction that had started on Friday, influenced by the absence of a concrete decision on state debts by the European Council, with most stocks registering mediocre losses and pressure focusing on banks.

The Athens Exchange (ATHEX) general index closed at 1,653.63 points on Monday, contracting 0.48 percent from last Friday?s close at 1,661.68 points. The blue chip FTSE/ATHEX 20 index dropped 0.88 percent to end at 780.82 points. Nevertheless, the mid-cap FTSE/ATHEX 40 index expanded by 0.67 percent.

Viohalco outperformed among blue chips with growth of 2.60 percent, followed by Piraeus Bank (up 1.86 percent) and OTE telecom (1.29 percent).

Heading south were the stocks of Eurobank EFG (down 3.93 percent), Marfin Popular Bank (3.64 percent), Marfin Investment Group (2.74 percent) and Mytilineos (2.61 percent). National Bank declined by 1.19 percent.

In total 79 stocks moved up, 89 went down and 54 remained unchanged. Intrakat led the gainers with a 19.42 percent rise, while Attica Publications posted the biggest loss with a 19.57 percent decline.

Turnover came to 113.1 million euros, down from 146.6 million on Friday.