ECONOMY

ATHEX sees drop after recent rally

Greek stocks gave up nearly 2.5 percent yesterday as investors chipped away at recent gains after the bourse surged earlier this week. The drop was in line with falling global equity markets, as the massive relief rally triggered by a $1 trillion plan to contain Europe’s debt crisis fizzled out amid talk that the plan doesn’t erase doubts about the long-term solvency of indebted countries. The Athens bourse’s benchmark general index dropped 2.47 percent to 1,735.29 points, following Monday’s 9 percent leap. The blue chip FTSE/ATHEX 20 index shed 3.19 percent to end at 853.13 points. Banks slipped 4.87 percent. National Bank fell 5.70 percent to 11.42 euros and peer Alpha dropped 4.36 percent to 5.26 euros. Eurobank also underperformed, falling 6.49 percent to 5.19 euros. Among the winners was Coca-Cola Hellenic, which added 2.65 percent to 18.58 euros, and refinery Motor Oil, which rose 2.14 percent to 8.58 euros. Mid-caps on the FTSE/ATHEX 40 retreated 2.45 percent and small-caps (FTSE/ATHEX 80) lost 2.20 percent. Turnover reached 162.6 million euros versus 332 million in the previous session.