ECONOMY

Stock decline continues as sellers prevail

Local stocks failed to hold on to early gains at the Greek bourse on Thursday, as sellers proceeded to take the benchmark down to levels unseen since November 2012.

The Athens Exchange (ATHEX) general index closed at 761.66 points, giving up 2.06 percent from Wednesday’s 777.70 points.

The large-cap FTSE/ATHEX 25 index contracted 1.84 percent to end at 244.36 points.

All but four blue chips headed south, led by Jumbo (down 8.19 percent), despite the toy retailer reporting 7.7 percent year-on-year growth in sales volumes in July-December 2014.

Aegean Airlines slumped 7.25 percent while Piraeus Bank outperformed, expanding 3.22 percent.

In total 32 stocks moved up, 85 ended lower and 18 stayed put.

Turnover amounted to 73.2 million euros, down from Wednesday’s 121.6 million.