Pressure on Greece takes heavy toll on stocks

Pressure on Athens from European governments, and Germany in particular, sent the local bourse sharply lower on Wednesday, with banks taking an especially hard beating.

The Athens Exchange (ATHEX) general index ended the day at 776.28 points, dropping by 5.11 percent from Tuesday’s closing level of 818.10 points. The blue chip FTSE/ATHEX 20 index contracted by 6.95 percent to end at 319.19 points.

The banks sectoral index declined by 11 percent, with Eurobank EFG shedding 16.24 percent, Piraeus falling 14.43 percent and Alpha dropping 14.20 percent. Viohalco gained 2.58 percent and Coca-Cola HBC added 1.38 percent.

In total, 42 stocks registered gains, 116 posted losses and 19 remained unchanged.

Turnover amounted to 74.1 million euros, up from Tuesday’s 59.8 million. 

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