Spread news affects bourse

The local stock market tumbled further yesterday on news of the widening of the spread between the interest rate of 10-year Greek bonds and that of the German Bund, with the main index dropping below the 2,000-point level for the first time since March 1. The Athens Exchange (ATHEX) general index closed at 1,987.58 points yesterday, declining by 2.98 percent from Tuesday’s close at 2,048.69 points. The blue chip FTSE/ATHEX 20 index contracted by 3.06 percent to end at 980.49 points. Banks suffered heavy losses, with EFG Eurobank shedding 7.46 percent, Piraeus Bank dropping by 5.66 percent, Alpha Bank contracting by 4.35 percent and National Bank declining by 4.24 percent. Turnover amounted to 201.4 million euros.