ATHEX: Index drops below 800 pts

ATHEX: Index drops below 800 pts

The Greek bourse benchmark suffered an eighth consecutive day of losses for the first time in over two years on Thursday on continued pressure from abroad that has mainly hit the banking sector. Beta Securities estimates that the capitalization of the local stock exchange dropped by 2.4 billion euros in those eight sessions.

The Athens Exchange (ATHEX) general index closed at 787.50 points, shedding 1.57 percent from Wednesday’s 800.10 points. The large-cap FTSE-25 index contracted 0.61 percent to 2,048.72 points.

The banks index again started with gains, up to 1.95 percent, but eventually closed down 2.89 percent at a new three-month low. Alpha slumped 4.44 percent, National slipped 3.78 percent and Eurobank gave up 0.83 percent, while Piraeus recovered 0.37 percent.

Grivalia Properties rose 1.70 percent and Coca-Cola HBC grew 1.26 percent, while Mytilineos dropped 5.56 percent and Folli Follie shrank 4.89 percent.

In total 29 stocks advanced, 75 declined and 24 closed unchanged.

Turnover reached 65.5 million euros, against Wednesday’s 94.6 million.

In Nicosia the Cyprus Stock Exchange general index dropped 0.62 percent to 67.81 points.

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