ECONOMY

ATHEX: Investors spooked by PPC’s losses

ATHEX: Investors spooked by PPC’s losses

The steep drop in Public Power Corporation’s stock weighed heavily on the rest of the Greek bourse on Thursday, while most other eurozone markets headed higher.

The Athens Exchange (ATHEX) general index closed at 836.78 points, shedding 0.86 percent from Wednesday’s 844 points. The large-cap FTSE-25 index contracted 0.25 percent to end at 2,138.60 points, while the small-cap index earned 0.58 percent.

The banks index was down 2.10 percent, with National sliding 5.18 percent, Piraeus conceding 3.26 percent, Alpha falling 1.23 percent and Eurobank easing 0.54 percent. Yet by far the biggest loser of the day was PPC, which lost 17.32 percent.

In total 48 stocks advanced, 59 declined and 28 stayed put.

Turnover rose to 84.8 million euros from Wednesday’s 78.1 million.

In Nicosia the Cyprus Stock Exchange general index decreased 0.52 percent to close at 69.13 points.