ECONOMY

Stocks stay southbound for fourth day

Greek stocks continued their downward spiral on Thursday as the local bourse saw its main index drop for the fourth day in succession, while turnover returned to below the 100-million-euro mark.

The Athens Exchange (ATHEX) general index ended at 1,535.19 points, dropping by 1.50 percent from Wednesday?s close at 1,558.57 points. The blue chip FTSE/ATHEX 20 index contracted by 1.56 percent to end at 706.10 points.

Banks suffered monthly losses of 8 percent, against a 2.6 percent loss for the main index for March. It appears that guarantees for 30 billion euros from the government were not sufficient for banks to get back on track and more may be required.

Three blue chips ended the day with gains as Jumbo added 1.87 percent, Motor Oil 0.44 percent and Titan Cement 0.11 percent. OPAP led the losers with a 4.97 percent decline, followed by ATEbank (down 4.05 percent), Ellaktor (3.73 percent), Marfin Investment Group (3.70 percent) and Alpha Bank (2.99 percent).

In total, 51 stocks moved up, 113 went down and 47 remained unchanged. Vivere led the gainers with growth of 17.39 percent, while Euromedica posted the biggest loss, amounting to 19.37 percent.

Turnover came to 94.8 million euros, against 111 million on Wednesday.