Stocks dip 1.9 pct as Al­pha Bank plunges

Kathimerini English - - Business & Finance -

Greek stocks fell sharply yes­ter­day on weak banks, led by a dip of more than 9 per­cent by Al­pha.

The Athens bourse’s bench­mark gen­eral in­dex dipped 1.95 per­cent to 1,240.25 points. Banks gave up 3.54 per­cent. Al­pha Bank fell 9.06 per­cent to 2.94 eu­ros. Late on Fri­day, Al­pha said it plans to ask its in­vestors next month to ap­prove a share cap­i­tal in­crease over the next 12 months, with­out say­ing how much it in­tends to raise. Mean­while, data pro­vided by bro­kers showed that cost-cut­ting ef­forts by listed com­pa­nies helped off­set plung­ing pri­vate con­sump­tion and record-low busi­ness sen­ti­ment in the first quar­ter of the year, send­ing earn­ings 15.7 per­cent higher year-on-year.

Fig­ures showed that 77 com­pa­nies listed on the Athens bourse, which make up 80 per­cent of the mar­ket’s to­tal cap­i­tal­iza­tion, col­lec­tively re­ported net earn­ings of 775.8 mil­lion eu­ros. The first-quar­ter re­port­ing sea­son winds up to­day.

Newspapers in English

Newspapers from Greece

© PressReader. All rights reserved.