ECONOMY

Debt woes lead to huge losses on bourse

Greek and European debt woes weighed heavily on the local bourse on Monday, leading to big losses that were broadly in line with its continental peers.

The decline posted by the benchmark index was the biggest in the last four years and came just a day before the arrival of inspectors representing Greece?s creditors in Athens.

The Athens Exchange (ATHEX) general index ended at 586.04 points, dropping a considerable 7.10 percent from last week?s closing figure of 630.84 points. The blue chip FTSE/ATHEX 20 index shrank 8.10 percent to close at 209.58 points.

All the blue chips fell, led by OTE and PPC (both 16.67 percent).

In total, 21 stocks posted gains, 115 recorded losses and 11 remained unchanged.

Turnover came to 36.3 million euros, up from Friday?s 19.4 million.