ECONOMY

Major decline for local stocks

The negative climate across the eurozone increased pressure on the local stock market, with the main index sliding to lows unseen since April 22, 2009. The Athens Exchange (ATHEX) general index closed at 1,878.91 points yesterday, contracting by 3.73 percent from Thursday’s close at 1,951.70 points. Since the start of the year, it has dropped by 14.45 percent. The blue chip FTSE/ATHEX 20 index fell by 4.03 percent to end at 938.09 points. Pressure mounted on bank stocks, with Alpha Bank shedding 7.35 percent, Eurobank EFG sliding by 6.25 percent, National Bank dropping by 5.05 percent, Piraeus Bank losing 4.48 percent and Bank of Cyprus declining by 4.05 percent. Turnover came to 294.6 million euros, up from Thursday’s 215.7 million euros.