Bank stocks re­cover to cut in­dex losses

Kathimerini English - - Front Page -

The bench­mark of the Greek bourse man­aged to re­main above the 900-point level yes­ter­day as the early panic that wiped out in ex­cess of 3.80 per­cent from the main in­dex gave way to more col­lected ac­tiv­ity that erased two-thirds of the morn­ing losses.

The Athens Ex­change (ATHEX) gen­eral in­dex closed at 907.47 points, de­creas­ing by 1.27 per­cent from Fri­day’s 919.11 points. The large-cap FTSE/ATHEX-25 in­dex con­tracted by 1.17 per­cent to 306.34 points.

The con­tain­ment of the drop is at­trib­uted to the up­ward swing of bank stocks, with National Bank adding 1 per­cent and Alpha Bank end­ing up as a non-mover, hav­ing fallen by nearly 6 per­cent ear­lier.

OTE tele­com out­per­formed, grow­ing by 1.61 per­cent, while Folli-Fol­lie (for­merly known as Duty Free Shops) fell 4.24 per­cent and Corinth Pipeworks de­clined by 4.74 per­cent.

In to­tal, 40 stocks posted gains, 84 reg­is­tered losses and 31 re­mained un­changed.

Turnover came to 47.2 bil­lion eu­ros, just un­der last Fri­day’s 47.4 mil­lion. The low turnover was in­dica­tive of in­vestors’ wait-and­see stance of ahead of last night‘s meet­ing be­tween the coali­tion govern­ment party lead­ers.

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