ECONOMY

Banks lead fresh drop on bourse

Market doubts regarding the outcome of the upcoming European Union summit and the process of passing the government?s midterm fiscal plan through Parliament in Greece inflicted fresh losses on local stocks on Thursday.

The Athens Exchange (ATHEX) general index ended at 1,241.82 points, contracting by 2.33 percent from Wednesday?s close at 1,271.43 points.

The blue chip FTSE/ATHEX 20 index shrank by 2.80 percent to end at 553.66 points.

The mid-cap FTSE/ATHEX 40 index fared better, shedding 1.37 percent.

The banks sectoral index fell by 3.78 percent, continuing its rollercoaster course.

All but one blue chip registered losses, led by Alpha Bank (down 4.80 percent), National Bank (4.55 percent), ATEbank (4.07 percent), Hellenic Postbank (3.93 percent), Piraeus Bank (3.77 percent) and Ellaktor (3.48 percent). Marfin Investment Group was the only non-mover.

In total, 36 stocks moved up, 92 went down and 44 remained unchanged. Akritas posted the biggest rise with gains of 19.05 percent, while Space Hellas led the losers, declining by 19.17 percent.

Turnover dropped to just 57.2 million euros on Thursday from 83.3 million on Wednesday.