ECONOMY

ATHEX: Bank stocks keep tanking

athex-bank-stocks-keep-tanking

Bank stocks have tumbled a total of 45 percent since the September 20 general election, as they gave up another 9.83 percent on Thursday on top of almost two weeks of major losses. Other blue chips followed suit, as the market becoming increasingly shallow.

The Athens Exchange (ATHEX) general index closed at 642.71 points on Thursday, shedding 1.76 percent from Wednesday’s 654.20 points. The large-cap FTSE 25 index contracted 2.08 percent to end at 185.82 points, although the small-cap index rose 1.01 percent.

Alpha Bank declined 12.15 percent, while National Bank and Eurobank lost 9.09 percent each. Hellenic Exchanges dropped 5.86 percent. Grivalia Properties gained 2.39 percent and Aegean Air added 1.34 percent.

In total 32 stocks advanced, 50 posted losses and 14 stayed put.

Turnover amounted to 24.4 million euros, down from Wednesday’s 29.2 million.