ECONOMY

Banks slide on third day of bourse decline

A third straight day of decline on the Greek bourse resulted in losses of 33.67 percent for banks – following the rally recorded last week – though a late recovery in major European markets contained the drop of the local benchmark index to below 1 percent at the end of Wednesday’s session.

The Athens Exchange (ATHEX) general index closed at 1,080.65 points, shedding 0.94 percent from Tuesday’s 1,090.89 points. The large-cap FTSE/ATHEX-25 index contracted by 1.33 percent to end at 367.80 points, but mid-caps recorded growth of 2.39 percent.

Eurobank Ergasias remains by far the most volatile stock on the bourse, adding 20.94 percent on Wednesday. Corinth Pipeworks came a distant second on the rising stocks’ chart, expanding by 3.86 percent, while OTE saw its price climb by 2.17 percent.

On the losing end, National Bank contracted by 9.57 percent, OPAP fell by 3.85 percent and Piraeus Bank shed 3.59 percent after ranging between a 14.64 percent rise and a 13.81 percent drop in the same day.

In total 75 stocks registered gains, 85 suffered losses and 32 remained unchanged.

Turnover amounted to 151.2 million euros, down from Tuesday’s 161.5 million.