ECONOMY

ATHEX: Bank chips’ losses weigh on bourse

athex-bank-chips-losses-weigh-on-bourse

The imported pressure on lenders due to the European Central Bank’s decision to review the issue of nonperforming loans and the uncertainty generated by the postponement of the bailout inspection by the country’s creditors on Monday resulted in a ninth day of decline for stocks on the Greek bourse out of the total 10 sessions this year.

The Athens Exchange (ATHEX) general index closed at 543.13 points, shedding 2.74 percent from Friday’s 558.45 points. The large-cap FTSE 25 index contracted 4.16 percent to end at 151.41 points. Mid-caps plummeted 9.42 percent.

The banks index dropped to a historic low of 43.07 points, giving up 11.14 percent, with mid-cap Attica Bank shrinking 30 percent and the four systemic lenders falling between 9 and 12 percent: Piraeus declined 11.74 percent, Eurobank decreased 11.40 percent, National lost 10.41 percent and Alpha fell 9.22 percent.

Among the few blue chips to head north, Coca-Cola HBC (up 1.56 percent) and Jumbo (1.04 percent) were the ones that stood out.

In total 29 stocks recorded gains, 76 sustained losses and 23 remained unchanged.

Turnover amounted to 85.6 million euros, up from last Friday’s 74.2 million.