ECONOMY

Local stocks caught up in global slide

The Greek bourse wound up a week of significant losses with a fresh decline yesterday as global uncertainty over the ability of the Greek government to impose its austerity measures caused an international wave of sales that the local market could not escape. The Athens Exchange (ATHEX) general index closed at 1,630.47 points yesterday, declining 2.86 percent from Thursday’s close at 1,678.42 points. The blue chip FTSE/ATHEX 20 index shrank by 3.12 percent to end at 797.46 points. From the start of the year the bourse has seen over 20 billion euros of its total value wiped out. Public Power Corporation and Coca-Cola HBC outperformed among blue chips with a rise of 1.79 percent and 1.16 percent respectively. Worst off were Motor Oil (down 6.75 percent), National Bank (6.24 percent), Titan cement (5.18 percent) and OTE telecom (5.18 percent). The stocks with the biggest rise were Eleftheri Tileorasi (up 10 percent) and FHL Mermeren (9.78 percent), while heading southward were Euroholdings (down 13.33 percent) and Elfico (12.96 percent). Turnover amounted to 171.1 million euros.