ECONOMY

Banks hit hardest as stocks slump

Further bad news on the bond market meant more losses for local stocks, although some nonbanking blue chips registered significant gains. The Athens Exchange (ATHEX) general index closed at 1,936.43 points yesterday, declining 1.30 percent from Tuesday’s close at 1,961.86 points. The blue chip FTSE/ATHEX 20 index shrank 1.85 percent to end at 948.87 points. Most blue chips recorded losses, with banks in particular experiencing another bad day: Alpha lost 5.15 percent, Piraeus declined 3.25 percent, National dropped 2.99 percent, EFG Eurobank contracted 2.72 percent and Marfin Popular Bank dropped 2.04 percent. By contrast, Coca-Cola HBC gained 3.52 percent and Public Power Corporation moved up 1.45 percent. Turnover amounted to 148 million euros.