ECONOMY

Selling in banks drags stocks lower

Greek stocks continued to move southwards on Wednesday as banks dipped more than two percent.

The Athens bourse?s benchmark general index fell 1.34 percent to 1,558.57 points.

The blue chip FTSE/ATHEX 20 index dropped 1.78 percent to end at 717.30 points.

Banks gave up 2.07 percent led by a 5.25 percent slide in Alpha Bank to 4.69 euros. National Bank retreated 2.33 percent to 6.28 euros while peer Piraeus ended 3.40 percent in the red at 1.42 euros. Bank of Cyprus outperformed, adding 3.17 percent to 2.60 euros.

Power company PPC ranked among the winners, adding 1.82 percent to 12.31 euros after gaining 0.75 percent on Tuesday.

Hellenic Bottling also rose, climbing 0.73 percent to 19.19 euros.

Turnover reached 111.7 million euros versus 110 million previously.