Bank stocks sink on jit­ters

Kathimerini English - - Focus -

In­vestors in the lo­cal bourse were clearly ner­vous yes­ter­day – largely due to the in­crease in Greek lenders’ de­pen­dence on the Bank of Greece’s emer­gency liq­uid­ity mech­a­nism, as well as Sin­gle Su­per­vi­sory Mech­a­nism head Daniele Nouy’s visit to Athens – and this re­sulted in sig­nif­i­cant losses for the vast ma­jor­ity of stocks at Athi­non Av­enue, with banks lead­ing the way.

The Athens Ex­change (ATHEX) gen­eral in­dex closed at 638.92 points, shed­ding 1.89 per­cent from Mon­day’s 651.25 points. The large-cap FTSE 25 in­dex con­tracted 1.91 per­cent to 1,705.62 points.

The banks in­dex shrank 4.53 per­cent as Pi­raeus lost 6.25 per­cent, Eurobank gave up 5.12 per­cent and Al­pha con­ceded 4.55 per­cent. Vio­halco de­creased 3.80 per­cent and Ti­tan Ce­ment dropped 3.50 per­cent, but Gri­valia Prop­er­ties – which com­pleted the ac­qui­si­tion of a ma­jor prop­erty in Panama – grew 0.51 per­cent.

In to­tal 43 stocks recorded gains, 64 sus­tained losses and 30 closed un­changed.

Turnover amounted to 35 mil­lion eu­ros, up from Mon­day’s 21.8 mil­lion.

In Ni­cosia the gen­eral in­dex of the Cyprus Stock Ex­change ad­vanced just 0.03 per­cent to 66.84 points.

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