ECONOMY

Banks index suffers steep drop

Most stocks on the local bourse managed to defend themselves from steep declines registered by banks on Monday, with the main index recording only moderate losses.

The Athens Exchange (ATHEX) general index ended at 808.58 points, contracting by 0.31 percent from last week?s closing figure of 811.11. The blue chip FTSE/ATHEX 20 index declined by 1.39 percent to close at 313.73 points, but the mid-cap index expanded by 0.92 percent.

The banks index lost a hefty 9.96 percent yesterday, as Piraeus dropped 15.66 percent, Hellenic Postbank declined 15.09 percent and Eurobank EFG fell 10.53 percent.

In total, 61 stocks went up, 85 went down and 21 remained unchanged.

Turnover came to 69.4 million euros, down from 90 million last Thursday.