ECONOMY

ATHEX: Bank losses drag benchmark lower

athex-bank-losses-drag-benchmark-lower

Big losses sustained by Greek bank stocks, especially Eurobank and Piraeus, weighed heavily on the bourse benchmark on Wednesday, despite significant gains registered by Coca-Cola HBC, the blue chip with the highest capitalization.

The Athens Exchange (ATHEX) general index closed at 676.13 points, shedding 0.32 percent from Tuesday’s 678.30 points. The large-cap FTSE 25 index contracted 0.08 percent to end at 200.87 points.

The banks index shrank 4.22 percent as Eurobank gave up 13.04 percent and Piraeus dropped 9.09 percent. Grivalia Properties climbed 3.66 percent and Coca-Cola HBC expanded 2.96 percent.

In total 36 stocks advanced, 53 declined and 15 stayed put. Turnover fell to 23.3 million euros from Tuesday’s 34.1 million.