ECONOMY

Blue chips drag index down after six sessions

The Athens Exchange (ATHEX) benchmark index fell for the first time in seven trading days, losing 62.13 points, or 1.5 percent, to 4,100.18. The FTSE/ATHEX 20 index of the country’s biggest companies fell 1.8 percent to 2,142.85 points. Industrial products and services, personal and household goods and banks came under the strongest pressure. Public Power Corporation (PPC) bucked the declining trend among blue chips, rising 4 percent to -27.30, ending two days of losses. Greece’s biggest electricity producer approved an initial agreement to build a power plant with Halyvourgiki, a closely held steelmaker. Hellenic Petroleum advanced 1.43 percent. By contrast Viohalco, slumped 5.1 percent after hefty recent gains, Bank of Cyprus dropped 4.8 percent, Bank of Piraeus dived 4.7 percent, Coca-Cola HBC lost 3.2 percent, Alpha Bank shed 2.7 percent and Hellenic Postbank was 2.3 percent lower. Corinth Pipeworks rose 5.3 percent, after losing 5.5 percent on Wednesday. The steel pipe maker said it has signed new agreements worth -170 million to build pipes with six energy and construction companies. Turnover topped -369.7 million. The Cypriot stock exchange lost 2.5 percent to 3,146.96 points. (Bloomberg, Kathimerini)