Stocks shed one pct; TT outperforms
Greek stocks fell almost 1 percent yesterday on widespread losses, though Hellenic Postbank (TT) bucked the trend, rising sharply. The Athens bourse’s benchmark general index fell 0.97 percent to 1,649.87 points, dropping for the fifth straight session. Banks fell 1.29 percent, with National Bank dropping 1.77 percent to 10.56 euros and Piraeus Bank shedding 2.06 percent to 4.75 euros. TT jumped 8.40 percent to 4.26 euros, bringing gains over the last 30 days to 63 percent. News in July that Piraeus Bank had offered to buy a majority stake in TT from the government spurred demand in the stock, making it one of the sector’s best-performing shares. Proton Bank has also outperformed in the last 30 days, adding 56 percent. The stock jumped 5.93 percent yesterday to 1.25 euros. The blue chip FTSE/ATHEX 20 index gave up 1.13 percent to 801.23 points. Cement company Titan dropped 3.04 percent to 15.94 euros, while power company PPC added 2.27 percent to 13.05 euros. OTE telecom firmed 0.16 percent to 6.08 euros. Turnover reached 64.7 million euros, versus 84 million euros previously.
