ECONOMY

Banks index sheds 63.8 pct in three days

banks-index-sheds-63-8-pct-in-three-days

Greek stocks continued to slide for a third session in a row on Wednesday, with banks suffering another dramatic day with losses of 27 percent for their sectoral index.

Banks’ cumulative losses since the reopening of the local bourse on Monday reached 63.8 percent, diving to a new historic low of 238.40 points.

The Athens Exchange (ATHEX) general index closed at 643.22 points, shedding 2.53 percent from Tuesday’s 659.94 points. The large-cap FTSE 25 index declined 2.86 percent to end up at 188.88 points.

Eurobank shares dropped to 5 cents after plunging 26.76 percent on Wednesday. Piraeus Bank (down 29.59 percent) and Alpha (29.56 percent) fared even worse, while National Bank shrank 24.29 percent.

On the other hand, Piraeus Port Authority recorded an 11.23 percent rise, followed by Coca-Cola HBC (up 7.60 percent) and Athens water company EYDAP (5.89 percent).

In total 39 stocks enjoyed growth, 56 suffered a decline and 16 remained unchanged.

Turnover amounted to 81 million euros, up from Tuesday’s 63.7 million.