ECONOMY

Bourse index sees biggest drop in six months

The uncertainty that dominated Europe on Thursday regarding a direct and satisfactory solution to the debt problem, and the desire by investors to cash in on their gains from previous sessions led the main index on the Greek bourse to its biggest one-day loss in six months.

The Athens Exchange (ATHEX) general index closed at 1,632.06 points, falling by 3.46 percent from Wednesday?s closing at 1,690.58 points.

The blue chip FTSE/ATHEX 20 index contracted by 3.87 percent to end at 762.89 points.

All blue chips posted losses, led by Eurobank EFG (down 9.03 percent), Hellenic Postbank (7.40 percent), Ellaktor (6.86 percent), Alpha Bank (6.46 percent) and Marfin Investment Group (5.56 percent).

Banks were particularly hurt as their sectoral index posted a 5.19 percent decline, over investor concern that the European Union summit next month may not come to an agreement about debt, despite high expectations that have led to extensive purchases in the last month.

In total, 44 stocks moved up, 139 headed south and 39 remained unchanged. Kyriakoulis led those rising with an 16.22 percent growth, while Paperpack Tsoukaridis posted the biggest loss, amounting to 11.90 percent.

Turnover came to 179.5 million euros, growing from 164.1 million on Wednesday.