ECONOMY

Stocks plumb new depths

Banks and strong business groups are suffering one blow after another on the local bourse, as the main index slid for the eighth day in a row on Wednesday.

The Athens Exchange (ATHEX) general index ended at 1,101.31 points, declining by 3.76 percent from Tuesday?s closing figure of 1,144.29 points. The blue chip FTSE/ATHEX 20 index dropped 4.12 percent to end at 477.34 points.

Piraeus Bank shrank by 8.54 percent, Ellaktor lost 8.47 percent, Marfin Investment Group shed 7.14 percent and Marfin Popular Bank contracted 6.38 percent. Jumbo was a non-mover, the only blue chip not to post losses.

In total, 27 stocks moved up, 117 went down and 29 remained unchanged.

Turnover came to 64.1 million euros, against 51 million euros on Tuesday.