ECONOMY

European worries hurt local bourse

The local bourse fell prey to bond market jitters and European reservations over Portugal, as well as reports that key decisions on eurozone matters have been postponed until June, leading most stocks into the red on Wednesday during a session with a respectable trading volume.

The Athens Exchange (ATHEX) general index ended at 1,588.33 points, dropping by 1.42 percent from Tuesday?s close at 1,611.21 points. The blue chip FTSE/ATHEX 20 index contracted 1.75 percent, to end at 736.98 points.

The only blue chip to post gains was Motor Oil (up 0.55 percent).

Heading the southbound rush was Marfin Investment Group (down 5.81 percent), while Alpha Bank lost 4.86 percent after issuing its fourth-quarter profit figures on Tuesday and Eurobank EFG declined by 3.43 percent. Piraeus Bank, Mytilineos and Hellenic Postbank also ended with losses in excess of 3 percent.

In total, 53 stocks moved up, 101 went down and 47 remained unchanged. European Reliance led the gainers with growth of 16.33 percent, while Kiriacoulis posted the biggest loss, amounting to 18.87 percent.

Turnover came to 223.7 million euros, up from 90.8 million on Tuesday.