Bank stocks lead bourse to no­table losses

Kathimerini English - - Focus -

Grow­ing un­cer­tainty over the out­come of the sec­ond bailout re­view and a Kathimerini re­port about the pos­si­bil­ity that Greeks will be asked to pay a tax on cash with­drawals led to a sig­nif­i­cant drop in stock prices yes­ter­day at Athi­non Av­enue, with bank stocks lead­ing the way.

The Athens Ex­change (ATHEX) gen­eral in­dex closed at 604.06 points, shed­ding 3.09 per­cent from Fri­day’s 623.35 points. The large­cap FTSE 25 in­dex con­tracted 3.45 per­cent to 1,624.93 points.

The banks in­dex shrank 7.57 per­cent, its big­gest daily drop in al­most four months: Pi­raeus slumped 10.77 per­cent, Na­tional lost 7.51 per­cent, while Al­pha and Eurobank both gave up 6.63 per­cent.

With the ex­cep­tion of two blue chips that closed with­out a change (Gri­valia Prop­er­ties and Myti­li­neos), all large-caps headed south, as Hel­lenic Pe­tro­leum slumped 4.79 per­cent, Vio­halco sur­ren­dered 4.48 per­cent, OTE tele­com de­creased 3.86 per­cent, Pub­lic Power Cor­po­ra­tion dropped 3.58 per­cent and new en­try Saran­tis con­ceded 3.55 per­cent.

In to­tal 23 stocks re­ported gains, 69 posted losses and 17 re­mained un­changed.

Turnover amounted to 45.2 mil­lion eu­ros, down from last Fri­day’s 55 mil­lion.

The gen­eral in­dex of the Cyprus Stock Ex­change in Ni­cosia de­clined 1.13 per­cent to close at 64.65 points.

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