ECONOMY

ATHEX: Banks lead stock market price decline

athex-banks-lead-stock-market-price-decline

Bank stocks came under increased pressure on Thursday at the Greek bourse, with sellers dominating. The benchmark closed at the day’s low, with the closing auctions unable to offer any respite. Daily turnover was the lowest of the last 18 sessions.

The Athens Exchange (ATHEX) general index ended at 878.57 points, shedding 1.14 percent from Wednesday’s 888.68 points. The large-cap FTSE 25 index contracted 1.20 percent to 2,209.02 points.

The banks index slumped 3.07 percent, as Piraeus conceded 3.38 percent, Alpha dropped 3.27 percent, National fell 2.95 percent and Eurobank shrank 2.84 percent.

Ellaktor declined 3.18 percent, Motor Oil gave up 2.30 percent, Viohalco decreased 2.20 percent and Hellenic Exchanges eased 1.97 percent. Fourlis expanded 2.03 percent and Lamda Development grew 1.12 percent.

In total 26 stocks posted gains, 77 took losses and 25 remained unchanged.

Turnover amounted to 46.3 million euros, down from Wednesday’s 57.1 million.

In Nicosia the general index of the Cyprus Stock Exchange edged up 0.02 percent to 65.10 points.