Stocks plummet on spread, data

Although not quite a «black Thursday,» yesterday saw stocks plummet on news of a further widening of bond spreads and Eurostat’s upward revision of the 2009 budget deficit and debt. The Athens Exchange (ATHEX) general index closed at 1,860.76 points yesterday, declining by 3.91 percent from Wednesday’s close at 1,936.43 points. The blue chip FTSE/ATHEX 20 index shrank by 4.39 percent to end at 907.21 points. Investors continued to sell off bank stocks, but it was Viohalco that was worst off among blue chips (down 7.35 percent). It was followed by ATEbank (6.25 percent) and OPAP (6.20 percent), while Titan cement was the only blue chip to register growth (up 1.47 percent). Coca-Cola HBC dropped by 1.43 percent but has topped the capitalization chart for the first time ever. Turnover amounted to 238 million euros.

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