ECONOMY

Lenders bring correction on local bourse

The Greek bourse experienced a correction yesterday after several days of growth, with banks suffering most of the pressure, as investors cashed in on gains in the sector. The Athens Exchange (ATHEX) general index closed at 1,608.08 points yesterday, contracting by 1.78 percent from Monday’s close at 1,637.15 points. The blue chip FTSE/ATHEX 20 index dropped 2.12 percent to end at 781.06 points. Banks bore most of the brunt yesterday, with Alpha Bank falling by 4.93 percent, Eurobank EFG shedding 4.49 percent, Piraeus declining by 3.20 percent and National Bank shrinking by 1.77 percent. On the other hand, Motor Oil rose by 1.34 percent, Viohalco gained 0.96 percent, Ellaktor added 0.57 percent and OTE telecom expanded by 0.34 percent. There were 54 stocks heading up, 124 going down and 51 remaining unchanged. Compucon computer applications led gainers with a 14.29 percent rise, while Paperpack-Tsoukaridis continued its decline with an 18.75 percent loss. Turnover came to 132.3 million euros, a little above Monday’s 130.2 million euros.