Drop continues as worry grows

Global concerns about deflation and recession pushed stocks lower around the world yesterday, and the Greek market was no exception. The Athens Exchange (ATHEX) general index closed at 1,816.58 points yesterday, dropping by 4.24 percent from Wednesday. The blue chip FTSE/ATHEX 20 index declined by 4.68 percent to end at 943.89 points. All but one blue chip headed southward, led by Intralot (down 10.39 percent), Viohalco (7.11 percent), Bank of Cyprus (6.22 percent), National Bank (5.92 percent) and OPAP (5.59 percent). Only Coca-Cola HBC bucked the trend (up 1.10 percent). Banks in particular suffered yesterday, as foreign portfolios continued selling their stakes; the banks’ sectoral index posted losses of 5.30 percent. Turnover barely reached 170 million euros.