ECONOMY

Banks lead stock price correction

The Greek bourse underwent a sharp downward correction yesterday after the healthy rise of the previous six weeks, on the back of the global decline seen in markets on Monday, when the local bourse was closed because of the Orthodox Easter holiday. The Athens Exchange (ATHEX) general index dropped to 1,880.69 points yesterday, declining by a considerable 4.69 percent from last Thursday’s close. The blue chip FTSE/ATHEX 20 index contracted by 5.56 percent to end at 951.74 points. All but one blue chip headed south, with Hellenic Petroleum the only exception (up 1.98 percent). The worst losses were for the stocks of ATEbank (down 9.23 percent), Bank of Cyprus (8.50 percent), Piraeus Bank (8.18 percent), National Bank (8.03 percent) and Intralot (7.83 percent). Turnover reached 242.3 million euros.