Eight-month low for bank stocks index

Greek stocks continued to slide for a fifth consecutive session yesterday (the first drop of such a long duration in 17 months), with the banks index slumping to its lowest point in eight months and blue chip Lamda Development also falling for a fifth straight session on concerns over Elliniko.

The Athens Exchange (ATHEX) general index ended at 734.12 points, shedding 0.95 percent from Thursday’s 741.13 points. On a weekly basis it gave up 3.86 percent.

The large-cap FTSE-26 index contracted 0.90 percent to close at 1,926.97 points, while mid-caps expanded 0.05 percent.

Banks were down 1.20 percent, with Eurobank decreasing 2.54 percent and National conceding 1.56 percent, while Attica rose 1.92 percent.

After seeing its Elliniko development plans hampered further, Lamda’s stock shrank 6.78 percent. Ellaktor contracted 2.44 percent and ADMIE Holdings fell 2.18 percent. Hellenic Petroleum, which on Thursday posted high nine-month profits and the distribution of a dividend of 0.15 per share, increased 2.02 percent.

In total 36 stocks reported gains, 56 took losses and 20 remained unchanged. Turnover amounted to 43.2 million euros, down from 45 million on Thursday.

In Nicosia the general index of the Cyprus Stock Exchange slid 0.75 percent to 72.77 points.

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