ECONOMY

Stock index loses grip of 1,100 points

The early deferred tax assets euphoria at the Greek bourse wore off during the afternoon on Thursday, with gains turning into losses far greater than those obeserved on most other Western markets. Some urgent stop-loss moves sent the benchmark close to the day’s lowest point at the closing.

The Athens Exchange (ATHEX) general index ended at 1,087.98 points, shedding 1.63 percent from Wednesday’s 1,105.99 points. The large-cap FTSE/ATHEX 25 index contracted 1.53 percent to close at 352.35 points.

Eurobank Properties (up 3.12 percent) and Alpha Bank (1.61 percent) were the only blue chips to head north, while Marfin Investment Group gave up 6.41 percent, EYDAP declined 5.06 percent and Hellenic Exchanges lost 4.35 percent.

In total 29 stocks showed gains, 96 took losses and 15 closed unchanged.

Turnover amounted to 117.5 million euros, up from Wednesday’s 77.7 million.