ECONOMY

Stock drop points to little hope of summit result

Investors? expectations from the ongoing European Union summit are clearly not great, and this was reflected in stock prices in Greece and on bourses elsewhere around the continent on Thursday.

The Athens Exchange general index ended at 677.31 points, declining by 1.30 percent from Wednesday?s closing figure. The blue chip FTSE/ATHEX 20 index shrank by 1.60 percent to end at 265.21 points.

Ellaktor led blue chips with gains of 1.77 percent. Hellenic Postbank shed 6.83 percent and Eurobank EFG dropped 5.90 percent.

In total, 63 stocks registered gains, 83 posted losses and 22 remained unchanged. Turnover amounted to just 27.1 million euros, against Wednesday?s 30.5 million.

On Thursday the Capital Market Commission extended to January 27, 2012 a short-selling ban that was due to expire on Friday.