ECONOMY

Blue chips drag bourse lower on economy?s grim outlook

Fears of a Greek default and uncertainty over the outcome of a teleconference between Finance Minister Evangelos Venizelos and Greece?s international creditors weighed on world stock markets on Monday.

The Athens Exchange general index fell below the September 13 16-year low of 843.12 points during the session but recovered some lost ground later, closing 1.7 percent lower than Friday, at 850.22 points.

The blue chip FTSE/ATHEX 20 index ended 2.15 percent lower at 357.9 points. Only Coca-Cola HBC headed north, adding 0.39 percent to close at 13 euros. Marfin Popular Bank dived 7.50 percent, OTE telecom fell 5.15 percent to an all-time low of 3.50 euros, and Ellaktor plunged 5 percent.

Turnover fell to 62.1 million euros, while 38 stocks moved up, 103 went down and 55 remained unchanged.