ECONOMY

Stocks lose gains, end off 1.2 pct

Greek stocks reversed mid-session gains yesterday to end more than 1 percent lower, as late-session selling pushed banks into the red. The Athens bourse’s benchmark general index dropped 1.27 percent to 1,497.75 points after reaching an intra-session high of 1,541 points. The blue chip FTSE/ATHEX 20 index retreated 1.59 percent to 715.32 points. Banks fell 1.93 percent as Alpha Bank gave up 3.60 percent to end at 4.55 euros and Eurobank EFG tumbled 4.65 percent to 4.10 euros. Emporiki Bank dipped 2.07 percent to 1.89 euros after news that its nine-month loss came to 745 million euros, compared to 472 million euros last year. Credit Suisse cut its price target on the stock to 1.60 euros yesterday from 2.70 euros previously. Lamda Development ranked among the winners, adding 1.01 percent to 3.99 euros and betting company OPAP advanced 3.27 percent to 13.01 euros. Turnover reached 115.9 million euros versus 67.9 million euros in the previous session.