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Greek Stocks: Alpha Bank, Eurobank, Fourlis, Piraeus, Sarantis

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Jan. 4 (Bloomberg) -- The ASE Index declined 23.08, or 1.6 percent, to 1,396.58 at the 5:20 p.m. close in Athens, after gaining 0.4 percent the previous day.

The FTSE/ASE 20 Index of the country’s biggest companies dropped 2 percent to 651.90, while the Cypriot General Index lost 4.3 percent to 1,012.13.

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

Alpha Bank SA (ALPHA GA) dropped 3.4 percent to 3.74 euros, erasing a 1.8 percent rise the previous day. EFG Eurobank Ergasias SA (EUROB GA) fell 4.6 percent to 3.55 euros. Greek business and household deposits dropped to 208.9 billion euros ($279 billion) in November from 211.1 billion in October, the Athens-based central bank said.

Data showed deposit outflows “accelerated in November, which is negative for the system’s liquidity and funding cost,” Proton Bank said in an e-mailed note today.

Fourlis (FOYRK GA) dropped 1.8 percent to 5.60 euros. Marfin Analysis lowered its share price estimate for the Greek electric company to 6 euros from 6.3 euros.

Piraeus Bank SA (TPEIR GA) fell 12 percent to 3.15 euros. Greece’s fourth-biggest lender will offer existing investors 12 new shares for every 5 held at the price of 1 euro each to raise 807 million euros, part of a planned 1.05 billion capital increase, according to a faxed statement.

Sarantis SA (SAR GA) dropped 4.4 percent to 3.02 euros, after Marfin Analysis reduced its share price estimate to 3.6 euros from 4.2 euros.

Terna Energy (TENERGY GA) lost 2.6 percent to 2.98 euros after Marfin Analysis said in an e-mailed statement it cut its share price estimate to 4.9 euros from 5.7 euros. Euroxx Securities also lowered its share price estimate for the Greek renewable energy company to 4.15 euros from 4.8 euros.

To contact the reporter on this story: Eleni Chrepa in Athens echrepa@bloomberg.net.

To contact the editor responsible for this story: Angela Cullen at acullen8@bloomberg.net.

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