ECONOMY

Index tumbles to 2,100 points

Pressure continued to mount on Greek bank stocks and the rest of the Athens bourse yesterday, resulting in fresh losses for the local market a day after Greece’s rating was downgraded by Fitch. The Athens Exchange (ATHEX) general index closed at 2,105.48 points yesterday, declining by 3.36 percent from Tuesday’s close at 2,178.70 points. The blue chip FTSE/ATHEX 20 index dropped 3.96 percent to end up at 1,073.42 points. The small-cap index had a softer drop of just 1.30 percent. Worst off among blue chips were the stocks of Piraeus Bank (down 8.44 percent), EFG Eurobank (7.65 percent), Alpha Bank (7.48 percent) and National Bank (6.59 percent). There were gains for Intralot (up 2.29 percent) and OTE telecom (1.30 percent). Turnover amounted to a considerable 487.3 million euros, up from 379 million on Tuesday.