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Greek Stocks: Alpha Bank, Marfin Investment Are Active in Athens

Greece’s benchmark ASE Index declined 22.88, or 1.4 percent, to 1,588.33 at the 5:20 p.m. close in Athens, its second day of losses.

The FTSE/ASE 20 Index of the country’s biggest companies fell 1.8 percent to 736.98. The Cyprus General Market Index dropped 0.8 percent to 1,025.06.

The following shares were the most active in Athens trading today. Symbols are in parentheses.

Alpha Bank SA (ALPHA GA) dropped 4.9 percent to 4.89 euros after dropping 3.6 percent the previous day. Greece’s third- largest bank posted 2010 net income of 85.6 million euros ($121.6 million) compared with 349.8 million euros in 2009 as loan losses rose amidst a shrinking economy, according to an e- mailed statement. The bank was cut to “hold” from “buy” at Eurobank EFG Equities with a share price estimate of 5.80 euros.

Marfin Investment Group SA (MIG) fell 5.8 percent to 81 cents, its biggest drop in two weeks. The board of Southeast Europe’s biggest buyout fund approved a 256.7 million-euro share capital increase and the issue of a 684.7 million-euro convertible bond loan to pursue investment opportunities, according to an e-mailed statement today.

To contact the reporter on this story: Tom Stoukas in Athens at

To contact the editor responsible for this story: Andrew Rummer at

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