Stocks slip on broad retreat

Late-session buying helped to trim losses on the Athens bourse yesterday against a backdrop of falling European markets. Stocks and the euro fell yesterday as investors remained unsettled by the seeming inability of European policymakers to get a handle on the debt crisis, which has threatened to engulf Portugal – widely considered the weakest eurozone economy after Greece and Ireland. The Athens bourse’s benchmark general index eased 0.28 percent to 1,436.66 points. Banks dipped 0.23 percent. National Bank firmed 0.78 percent to 8.42 euros and peer Alpha lost 0.89 percent, ending at 4.46 euros. Hellenic Postbank slipped 3.11 percent to 2.80 euros and Bank of Cyprus underperformed, dropping 3.39 percent to 2.85 euros. Cosmetics maker Korres fell 0.47 percent to 4.25 euros. Earlier it said net income in the first nine months of the year declined to 2.4 million euros from 3.4 million euros in the same period a year earlier. The figure doesn’t include an extraordinary tax charge of 400,000 euros. The mid-cap FTSE/ATHEX 40 index gave up 1.35 percent, while the small-cap FTSE/ATHEX 80 index retreated 1.22 percent. Turnover reached 90.7 million euros versus 65 million euros previously.

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