ECONOMY

Alpha Bank paces stock retreat across the board

Greek stocks declined across the board yesterday, in line with other European markets, snapping two days of gains. Banks Alpha and National paced the retreat. The Athens Exchange (ATHEX) general index dropped 1.15 percent, to 5,117.42 points, as 48 stocks fell, nine were unchanged and three advanced. The FTSE/ATHEX 20 Index of the country’s largest companies slipped 1.31 percent to 2,711.86. The respective mid-cap and small-cap indices shed 1.39 percent and 1.85 percent respectively. The Cypriot General Index declined 1.9 percent to 4,987.30. Alpha Bank, Greece’s third-biggest lender, decreased 2.9 percent, to -25.20. National Bank, the largest, dropped 1.1 percent, to -45.20. Intralot was the steepest blue chip decliner, dropping 3.42 percent. Titan was down 3.21 percent, Bank of Cyprus slumped 2.73 percent, Public Power Corporation fell 2.64 percent and Viohalco 2.56 percent. Coca-Cola HBC was the only blue chip to hold its own, nudging 0.36 percent higher. Rokas tumbled 4.1 percent, to -20. Nine-month net income at the Greek unit of Spain’s Iberdrola dropped 33 percent to -8.3 million because tax gains from the previous year weren’t repeated and sales declined. Turnover totaled -533.45 million. (Kathimerini, Bloomberg)