Stocks fall as universal outlook deteriorates

Greek stocks sank yesterday, dropping the lowest in three months amid a deteriorating outlook in markets abroad. Bellwether National Bank, the country’s biggest lender, fell 5.96 percent to -41, the biggest decline since February 27. The Athens Exchange general index dropped 2.86 percent, to 4,818.26 points, as all but seven stocks dropped. The FTSE/ATHEX 20 index of the country’s largest companies dropped 3.44 percent to 2,543.36. The respective mid-cap and small-cap indices shed 2.58 percent and 4.26 percent respectively. Among other blue chips, Viohalco was pummeled 9.20 percent lower and Intralot plunged 7.06 percent. Nine-month net income at the world’s second-largest gaming services provider rose 4.2 percent to -85.5 million, but sales declined 0.7 percent to -568.7 million. Postal Savings Bank slumped 5.40 percent and Public Power fell 2.4 percent. The only blue chips to hold their own were Coca-Cola HBC and OTE telecom, rising 0.79 percent and 0.24 percent respectively. Turnover totaled -844.8 million, of which 99.2 million was in block trades. The Cypriot General Index lost 4.1 percent to 4,655.19. (Kathimerini, Bloomberg)