ECONOMY

Bank decline reverts bourse index below 1,000 points

A decline in bank stocks dragged most of the Athens market lower in Monday’s session, with the benchmark index ending below the 1,000-point level once more.

The Athens Exchange (ATHEX) general index closed at 995.37 points, declining by 0.79 percent from Friday’s 1,003.32 points. The large-cap FTSE/ATHEX-25 index contracted by 1.39 percent, ending at 330.38 points.

OTE registered a rise of 1.31 percent – containing the index’s losses – after a report by UBS suggesting the inclusion of the country’s main telecom provider in the Eurostoxx 600 index, a decision on which is to be made on Tuesday and apply as of March 15.

Eurobank suffered losses of 14.01 percent, Bank of Cyprus shrunk by 8.33 percent and Piraeus lost 7.35 percent, while PPC added 2.88 percent.

In total 43 stocks posted gains, 102 saw losses and 23 remained unchanged.

Turnover amounted to 46.8 million euros, down from last Friday’s 69.8 million.