ECONOMY

ECB stance sends stocks into reverse

The European Central Bank’s refusal to take any further action to boost growth before next year took a toll on most European markets, with the local bourse seeing its early gains turn into losses on Thursday.

The Athens Exchange (ATHEX) general index closed at 991.87 points, shedding 1.60 percent from Wednesday’s 1,008.03 points, although it climbed as high as 1,023 points during the day. The large-cap FTSE/ATHEX 25 index contracted 1.81 percent to 327.57 points.

Just a handful of blue chips headed north, led by Motor Oil (up 3.14 percent), while Eurobank declined 5.60 percent, National bank shrank 4.90 percent and Marfin Investment Group gave up 4.66 percent.

In total 36 stocks went up, 64 came down and 32 stayed put.

Turnover amounted to 91.6 million euros, down from Wednesday’s 95.2 million.