Local stocks find little support amid European jitters

With European markets registering losses of more than 4 percent amid fears of a banking crisis on the continent, Greek stocks sank to a new 197-month low on Thursday.

The Athens Exchange (ATHEX) general index remained southbound throughout the session, ending 3.03 percent lower at 830.07 points, trimming the bourse?s total capitalization by more than 1 billion euros, bringing it down to around 33 billion. Analysts did not rule out a further dive below 800 points.

Blue chips fell 3.23 percent, with only the Public Power Corporation staying above water with a meager rise of 0.17 percent. Three banks (Alpha, Cyprus and Piraeus) and metals group Mytilineos slumped more than 5 percent. Bellwether National Bank fell under 3 euros, while Eurobank EFG came yet nearer the 1-euro barrier, shedding 3.60 percent.

Turnover came to 48.2 million euros. Just 20 stocks advanced, 107 fell and 36 remained unchanged.

Subscribe to our Newsletters

Enter your information below to receive our weekly newsletters with the latest insights, opinion pieces and current events straight to your inbox.

By signing up you are agreeing to our Terms of Service and Privacy Policy.