ECONOMY

ATHEX reverts to southbound course

The Athens bourse reverted to its downward course on Wednesday on rumors France may be in danger of losing its triple-A credit rating, as well as concerns over the outlook for French banks, with Societe Generale?s financial solidity coming into question. SocGen is the owner of Greek bank Geniki.

The Athens Exchange (ATHEX) general index ended at 982.11 points, shedding 1.80 percent from Tuesday?s closing figure of 1,000.13 points. The blue chip FTSE/ATHEX 20 index declined by 1.63 percent to end at 427.02 points.

All but two blue chips headed lower, led by Marfin Investment Group (down 8.33 percent). National Bank and Bank of Cyprus were non-movers.

In total, 48 stocks moved up, 90 went down and 40 remained unchanged.

Turnover came to 70.6 million euros, against 112.5 million on Tuesday.