ECONOMY

ATHEX sinks on recession fears

Greek stocks tumbled just over 7 percent yesterday, after two sessions of strong gains, as growing fears of a recession in Germany and France weighed on European bourses. The Athens Exchange’s (ATHEX) benchmark general index slumped 7.04 percent to 2,381.57 points, closing at the session low as selling pressure picked up in later trading. In afternoon trade, London’s FTSE, Germany’s DAX and France’s CAC were all between 6 and 7 percent in the red. Alpha Bank, the country’s third-largest lender, gave up 12.12 percent to end at 12.04 euros. National Bank also took heavy losses, falling 8.40 percent to 22.90 euros. Intralot fell 16.6 percent to end at 4.92 euros, bringing its losses in the last year to 67 percent. Turnover reached 281 million euros versus 377 million in the previous session.