ECONOMY

Sixth day of losses on the local bourse

The Greek bourse?s benchmark index declined for a sixth day in succession on Monday to register a new low for the last two-and-a-half months.

The Athens Exchange (ATHEX) general index ended at 1,492.44 points, dropping by 2.24 percent from last Friday?s close at 1,526.60 points. The blue chip FTSE/ATHEX 20 index contracted by 2.59 percent to end at 682.58 points.

The govenment?s apparent failure to achieve the fiscal targets of the first quarter, the revision of last year?s deficit, the considerable deterioration in listed companies? figures and the downgrading of the top banks? credit ratings have contributed to the local market?s bearish mood.

Coca-Cola HBC was the only blue chip to post gains (up 1.32 percent). Ellaktor led the losers with a 7.81 percent drop, Hellenic Postbank followed with losses of 6.57 percent, Piraeus Bank contracted by 5.76 percent and Eurobank EFG declined by 5.75 percent.

In total, 31 stocks moved up, 144 went down and 27 remained unchanged. For a second consecutive session Vivere led the gainers, registering growth of 17.74 percent, while Babis Vovos posted the biggest loss, amounting to 18.90 percent.

Turnover came to 107.1 million euros, up from 101.8 million on Friday.