Stocks drop for a sixth day

The sixth consecutive session of losses sent most stocks on the Athens bourse spiraling lower on Monday, a day of great uncertainty across the continent regarding the debt crisis and one of significant decline for the euro.

The Athens Exchange (ATHEX) general index ended at 1,218.88 points, losing 2.58 percent from last Friday?s close at 1,251.10 points. The blue chip FTSE/ATHEX 20 index declined by 3.48 percent to end at 536.70 points.

All but four blue chips headed south on Monday, led by Bank of Cyprus (down 8.33 percent), Eurobank EFG (7.91 percent), Marfin Popular Bank (6.90 percent) and National Bank (5.56 percent). Hellenic Petroleum outperformed with gains of 0.79 percent.

ATEbank, which gave up 4.35 percent yesterday, was taken off the blue chip index and was replaced by Folli Follie.

In total, 39 stocks moved up, 104 went down and 47 remained unchanged. Sanyo Hellas posted the highest gains, adding 14.29 percent, while Euromedica was the worst off with a decline of exactly the same amount.

Turnover came to 81 million euros on Monday, up from 66.3 million euros on Friday.