Bank slide leads equities lower
Greek stocks lost 1.72 percent yesterday, falling below 1,500 points, as banks extended losses on concerns over their exposure to Central and Eastern Europe (CEE). The Athens Exchange’s benchmark general index ended at 1,481.46 points. Banks shed 2.31 percent, led by a 7.82 percent drop in Piraeus Bank to 3.30 euros. J.P. Morgan Securities said yesterday that Greek lenders operating in CEE may require an additional 4 billion euros in capital due to a rise in nonperforming loans. Gaming company OPAP also took heavy losses, falling 5.71 percent to 18.50 euros. OTE telecom bucked the trend, adding 1.94 percent to 10.50 euros. Turnover reached 101.3 million euros versus 109 million euros in the previous session.
