ECONOMY

Bank stocks post huge losses in Q1

With the omens from the negotiations in Brussels being far from positive on Tuesday, the benchmark of the Greek stock market ended the month of March with losses of 11.93 percent, while banks declined by 24.69 percent. The banks index lost 41.53 percent in the first quarter of the year.

The Athens Exchange (ATHEX) general index closed at 772.71 points, adding 0.36 percent to Monday’s 772.71 points.

The large-cap FTSE/ATHEX 25 index posted a 0.75 percent increase to end at 230 points.

Mid-caps added just 0.19 percent as the 2014 corporate results flow in.

Eurobank posted the biggest rise among blue chips, expanding 9.38 percent, with GEK Terna (up 4.85 percent) and Marfin Investment Group (4.80 percent) following. Ellaktor gave up 6.32 percent, Piraeus Port Authority contracted 4.27 percent and Terna Energy suffered a 2.67 percent drop.

The overall picture was mixed, as 56 stocks reported gains, 60 sustained losses and 17 closed unchanged.

Turnover amounted to 124.4 million euros, more than twice Monday’s 58.3 million.