ECONOMY

Credit sector worries inflict losses on Greek bourse

Fears that the much anticipated merger between National Bank and Eurobank might not go ahead saw the Greek benchmark sustain fresh losses after the end of a four-day break on Tuesday. However, gains registered by blue chip heavyweights Coca-Cola HBC and OPAP contained the drop.

The Athens Exchange (ATHEX) general index closed at 856.29 points, shedding 1.48 percent from last Thursday’s 869.19 points. The large-cap FTSE/ATHEX-25 declined by 1.79 percent, ending at 275.17 points.

The banks index has registered new 26-year lows, with Eurobank giving up 14.29 percent, Alpha sinking 8.45 percent and National shrinking by 5.28 percent. Marfin Investment Group fell 11.15 percent, but OPAP added 1.46 percent and CCHBC rose 0.96 percent.

In total 42 stocks posted gains, 95 sustained losses and 19 stayed put.

Turnover amounted to 46.7 million euros, down from last Thursday’s 55.7 million.