Stocks lose 2.8 pct; banks slide

Greek stocks fell 2.85 percent yesterday on steep losses in banks, racking up losses of more than 6 percent for the week. The Athens Exchange’s benchmark general index ended the session at 1,788.46 points, retreating 6.54 percent since the previous Friday’s close. Public Power Corporation (PPC) was among the few blue chip gainers, adding 6.37 percent to 12.36 euros. Index heavyweight banks lost 4.45 percent. Bank of Cyprus tumbled 6.09 percent to 2.62 euros, while Alpha, Greece’s third-largest lender, lost 5.56 percent to 6.80 euros. The Athens bourse outperformed its major European peers, which were losing between 3 to 5.5 percent in late trade yesterday. Turnover on the Greek bourse reached 139.3 million euros versus 175 million previously.

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