ECONOMY

Banks drag bourse index lower

The Greek bourse’s banks index hit a 19-month low on Wednesday,sliding 5.06 percent and weighing on the market in yet another session of losses. Market sources explained the fresh decline by pointing to the Capital Market Commission’s probe into naked short selling concerning bank shares last spring.

The Athens Exchange (ATHEX) general index ended at 872.31 points, shedding 2.30 percent from Tuesday’s 892.84 points. The large-cap FTSE/ATHEX 25 index fell 2.49 percent to 282.18 points, but small-caps expanded by 0.68 percent.

Ellaktor fared the worst among blue chips, dropping 9.29 percent, followed by banks Alpha (down 6.74 percent), National (5.85 percent) and Piraeus (4.63 percent). The Athens Water Supply and Sewerage Company (EYDAP) was the biggest earner as it climbed 3.16 percent, with the OPAP gaming company rising by 1.33 percent.

In total 36 stocks registered gains, 77 showed losses and 18 remained unchanged.

Turnover amounted to 95.4 million euros, up from Tuesday’s 70.1 million.