ECONOMY

Fundamentals weigh heavily on local bourse

The growing jobless rate and rumors of an upward revision of Greece’s economic contraction for 2013 led to local stocks sustaining losses that were contained toward the end of Thursday’s session.

The Athens Exchange (ATHEX) general index closed at 968.29 points, shedding 0.50 percent from Wednesday’s 973.12 points. The large-cap FTSE/ATHEX-25 index declined by 0.61 percent, ending at 315.86 points.

Banks continued to slide to 25-year lows, as Alpha gave up 7.73 percent, Piraeus shrank by 6.57 percent and Eurobank dropped 6.47 percent.

In total 49 stocks registered gains, 96 sustained losses and 30 remained unchanged.

Turnover amounted to 82.8 million euros, up from Wednesday’s 76 million.