ECONOMY

ATHEX: Bank repricing affects bourse

athex-bank-repricing-affects-bourse

Bank chips continued to crumble at the start of the new week, as their prices keep dropping to meet the agreed level for the lenders’ share capital increases. This decline has up to an extent affected the entire stock market, which was very reserved on Monday anyway, as trading activity did not exceed 27 million euros.

The Athens Exchange (ATHEX) general index closed at 643.51 points, shedding 2.33 percent from Friday’s 658.84 points. The large-cap FTSE 25 index contracted 2.60 percent to end at 191.50 points while the small-cap index added 0.18 percent.

Banks slid for the 10th day in a row, with their index giving up 20.79 percent. National had another limit-down session, losing 29.91 percent, Piraeus declined 26.67 percent, Eurobank fell 17.65 percent and Alpha dropped 8.77 percent.

There were significant losses for Hellenic Exchanges (down 5.91 percent) and Hellenic Petroleum (5.88 percent), while EYDAP advanced 0.97 percent.

In total 24 stocks registered growth, 76 sustained losses and 23 remained unchanged.

Turnover amounted to 26.7 million euros, the lowest of the last 23 sessions, down from Friday’s 29.5 million.