Stock price slide gath­ers mo­men­tum

Kathimerini English - - Focus -

Af­ter slip­ping off sell­ers’ radar in re­cent days, banks were back at the fore­front yes­ter­day as lo­cal stocks headed south in the strong­est sign to date that in­vestors are sim­ply not con­vinced that the Greek econ­omy is set to stage a full re­cov­ery.

The Athens Ex­change (ATHEX) gen­eral index ended at 830.21 points, shed­ding 1.52 per­cent from Tues­day’s 843.05 points. The large­cap FTSE-26 index fell 1.32 per­cent to 2,159.36 points.

Ru­mors of an up­com­ing re­verse split of the Pi­raeus Bank stock led to a 6.49 per­cent con­trac­tion that contributed to­ward a 4.27 per­cent drop for the banks index. At­tica gave up 5.36 per­cent, Eurobank con­ceded 4.50 per­cent, Al­pha de­creased 3.54 per­cent and Na­tional was down 3.49 per­cent.

A hand­ful of blue chips re­sisted the pres­sure and reg­is­tered gains, led by Saran­tis (up 2.48 per­cent), Fourlis Hold­ings (2.31 per­cent) and Coca-Cola HBC (1.17 per­cent).

In to­tal 33 stocks went up, 74 sus­tained losses and 20 re­mained un­changed.

Turnover amounted to 73.4 mil­lion eu­ros, up from Tues­day’s 72.7 mil­lion.

In Ni­cosia the gen­eral index of the Cyprus Stock Ex­change dropped 0.03 per­cent to close at 75.75 points.

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