Local stocks head south as bank slide continues

Bank stocks continued to take a battering on the Greek bourse on Wednesday, falling for a fourth consecutive session and dragging the rest of the market lower with them.

The Athens Exchange (ATHEX) general index ended at 822.72 points, shedding 2.87 percent from Tuesday’s closing figure of 847.06 points. The blue chip FTSE/ATHEX 20 index gave up 3.96 percent to close at 286.50 points.

All but one blue chip headed south, led by Eurobank Ergasias (down 11.04 percent), Cyprus Popular Bank (9.43 percent) and Alpha Bank (8.93 percent). Titan cement was the exception, adding 1.54 percent.

In total 61 stocks went up, 89 declined and 16 remained unchanged.

Turnover amounted to 62.3 million euros, down from Tuesday’s 92.2 million.

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