ECONOMY

Bourse index drops below 1,500 points

The market reacted to increasing reports about a Greek debt restructuring and delays in the country?s privatization program by sending stocks tumbling once again on the local bourse on Monday.

The Athens Exchange (ATHEX) general index ended at 1,491.83 points, declining by 2.57 percent from last Friday?s close at 1,531.12 points. The blue chip FTSE/ATHEX 20 index contracted by a significant 3.14 percent to end at 681.55 points.

Only three blue chips managed to buck the trend and register gains yesterday. They were Viohalco (up 0.96 percent), OPAP (0.27 percent) and Jumbo (0.20 percent).

Leading the losers was ATEbank, which declined by 6.78 percent to reach an all-time low of 0.55 euros. It was followed by Eurobank EFG (down 6.12 percent), Hellenic Postbank (5.41 percent), Piraeus Bank (5.04 percent) and Alpha Bank (4.73 percent). National Bank declined by 3.82 percent.

In total, 36 stocks moved up, 126 went down and 42 remained unchanged.

Hatzioannou led the gainers, registering growth of 14.29 percent, while Edrasi posted the biggest loss, amounting to 20 percent.

Turnover came to just 74 million euros.