ECONOMY

National Bank and PPC fall, Marfin Popular up

Greek stocks, including the country’s biggest lender National Bank, ended slightly lower yesterday after rising by as much as 0.83 percent. The Athens Exchange (ATHEX) benchmark index lost 0.65, or less than 0.1 percent, to 5,053.22. The FTSE/ATHEX 20 index of the country’s largest companies declined 0.3 percent to 2,693.12 points. National Bank fell 40 cents, or 0.9 percent, to -45.50. Marfin Popular, the second-biggest bank in Cyprus, added 34 cents, or 3.7 percent, to -9.58. Motor Oil surged 5.85 percent, Hellenic Technodomiki climbed 4.44 percent and Titan Cement added 1.64 percent. By contrast, banks Emporiki and Cyprus dropped 2.78 percent and 1.94 percent respectively. Public Power Corporation, which accounted for almost a fifth of total turnover, shed 1.14 percent to -33.10 after hefty recent gains. Lavipharm tumbled 7.7 percent. The cosmetics and pharmaceutical company lowered its forecast for annual earnings for a second time this year after approval to sell a new pain patch product in the US faced further delays. Postal Savings Bank dropped 1.1 percent after HSBC Holdings Plc cut its recommendation on the lender to «underweight» from «neutral.» Turnover totaled -480.48 million. The Cypriot General Index fell 0.5 percent to 5,042.63 points. (Kathimerini, Bloomberg)