Bank stocks nose­dive to 4-month low

Kathimerini English - - Front Page -

Banks stocks in Athens dipped yes­ter­day to lev­els un­seen since last Fe­bru­ary, as the sec­tor continues to take a beat­ing across Europe, over fears of share cap­i­tal in­crease re­quire­ments, which would also re­flect on the do­mes­tic credit sys­tem through in­vest­ment fund with­drawals. The Euro­pean stress test re­sults, con­cern­ing 51 lenders, are ex­pected on July 29.

The Athens Ex­change (ATHEX) gen­eral index closed at 527.16 points, shed­ding 2.34 per­cent from Mon­day’s 539.81 points. The large­cap FTSE 25 index con­tracted 3.39 per­cent to end at 1,385.67 points.

Banks dropped 9.72 per­cent, with Pi­raeus down 12.75 per­cent, Eurobank los­ing 12.33 per­cent and Na­tional fall­ing 10.53 per­cent. Al­pha gave up 6.85 per­cent. Aegean Air added 2.01 per­cent and Gri­valia Prop­er­ties ad­vanced 1.29 per­cent.

In to­tal 33 stocks posted gains, 54 sus­tained losses and 16 stayed put.

Turnover amounted to 45.6 mil­lion euros, up from Mon­day’s 40.8 mil­lion.

In Ni­cosia the gen­eral index of the Cyprus Stock Ex­change de­clined 0.78 per­cent to close at 65.30 points.

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