In­vestors seem dis­ap­pointed with re­cap bill

Kathimerini English - - Focus -

The likely needto trans­form se­nior bank bonds into shares and the un­cer­tainty over the bank re­cap mech­a­nism, as the rel­e­vant bill is quite un­clear on the process, sent bank stocks con­sid­er­ably lower at the end of the week, with for­eign in­vestors ap­pear­ing re­served re­gard­ing the process to be fol­lowed in the share cap­i­tal in­creases.

The Athens Ex­change (ATHEX) gen­eral in­dex closed at 701.22 points, shed­ding 2.03 per­cent from Thurs­day’s 715.77 points. On a weekly ba­sis it de­clined by 1.58 per­cent, but it has ended Oc­to­ber with monthly gains of 7.19 per­cent.

The large-cap FTSE 25 in­dex con­tracted 2.71 per­cent yes­ter­day, end­ing at 209.49 points, with only four out of the 25 blue chips head­ing north.

The banks in­dex dropped 5.67 per­cent, bring­ing its to­tal fall for the week to 9.9 per­cent. Al­pha Bank gave up 11.54 per­cent and Na­tional Bank con­ceded 7.12 per­cent. Jumbo out­per­formed, ad­vanc­ing 1.27 per­cent.

In to­tal 32 stocks showed gains, 66 recorded losses and 10 closed un­changed.

Turnover amounted to 47.8 mil­lion eu­ros, up from Thurs­day’s 43 mil­lion.

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