ECONOMY

ATHEX: Fresh selling spree hits bank stocks

athex-fresh-selling-spree-hits-bank-stocks

The slight recovery of stock prices during the closing auctions on Thursday did not suffice to offset the losses of the Athens benchmark, which ended almost 1 percent lower. Banks were at the focus of selling interest again.

The Athens Exchange (ATHEX) general index closed at 616.96 points, shedding 0.93 percent from Wednesday’s 622.76 points. The large-cap FTSE-25 index contracted 0.94 percent to 1,642.67 points, while the small-caps index expanded 0.32 percent.

The banks index decreased 6.11 percent, even though it had risen 1.45 percent in early trade. The hardest hit was Alpha, which lost 9.54 percent, followed by National (down 4.20 percent), Piraeus (3.55 percent) and Eurobank (2.67 percent).

OPAP and Terna Energy outperformed, improving 3.02 percent and 2.57 percent respectively, while Viohalco fell 2.26 percent and Ellaktors gave up 2.22 percent.

In total 37 stocks registered gains, 53 sustained losses and 32 remained unchanged.

Turnover amounted to 41.9 million euros, down from Wednesday’s 42.8 million.

In Nicosia the Cyprus Stock Exchange general index declined 0.94 percent to close at 64 points.