Stocks end with losses of 0.99 pct

Kathimerini English - - Business & Finance -

Greek stocks dropped 1 per­cent yes­ter­day af­ter the lat­est down­grade from Moody’s hit sen­ti­ment but in­dex heavy­weight Na­tional Bank ad­vanced, help­ing trim broader mar­ket losses.

The Athens bourse’s bench­mark gen­eral in­dex gave up 0.99 per­cent to close at 1,277.23 points, af­ter dip­ping to as low as 1,266 points in mid-session trade.

The blue chip FTSE/ATHEX 20 in­dex also fell 0.99 per­cent, end­ing at 572.65 points. Banks shed 0.51 per­cent. Na­tional Bank added 1.46 per­cent to 4.87 eu­ros while Bank of Cyprus dipped 3.69 per­cent to 2.09 eu­ros.

Gam­ing com­pany OPAP dropped 3.03 per­cent to 9.69 eu­ros and power com­pany PPC also out­per­formed, adding 2 per­cent to 9.69 eu­ros.

Fourlis, the Greek fran­chisee for IKEA, slipped 2.43 per­cent to 4.81 eu­ros. Ear­lier, Pro­ton Se­cu­ri­ties cut its tar­get price on the stock to 6.80 eu­ros, from 7 eu­ros, cit­ing ex­pec­ta­tions for con­tin­ued weak­ness in sec­ond-quar­ter earn­ings due to the re­ces­sion. The bro­ker­age main­tained its neu­tral rat­ing on Fourlis.

Turnover reached 79.8 mil­lion eu­ros.

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