Alpha Bank, EFG Eurobank, Marfin, NBG, Terna: Greek Preview
The following stocks may be active in the Greek market. Symbols are in parentheses after company names and prices are from the previous close.
The benchmark ASE Index fell 15.65, or 1.1 percent, to 1,443. The FTSE/ASE 20 Index of the country’s biggest companies declined 1.2 percent to 672.4 today. The Cypriot General Index also dropped 1.2 percent to 1,057.61.
Alpha Bank SA (ALPHA GA): HSBC Holdings Plc lowered its share-price estimates on Greece’s four biggest lenders and the the biggest bank on the eastern Mediterranean island of Cyprus.
Separately, Fitch Ratings Ltd. downgraded the long-term issuer default ratings of several units of Greece’s two biggest lenders, National Bank of Greece SA (ETE GA) and EFG Eurobank Ergasias SA (EUROB GA).
Alpha’s shares lost 4.2 percent to 3.64 euros. Bank of Cyprus Pcl. (BOC GA) dropped 0.7 percent to 2.68 euros. National Bank declined 2 percent to 6.32 euros. Eurobank slid 3.5 percent to 3.63 euros. Piraeus Bank SA (TPEIR GA) fell 1.9 percent to 1.52 euros.
Marfin Popular Bank Plc. (MARFB GA): The second-biggest lender on Cyprus had its rating raised to “neutral” from “underweight” by analysts at HSBC. The stock was unchanged at 1.07 euros.
Terna Energy SA (TENERGY GA): The Greek renewable energy company acquired 10,600 of its own shares at an average price of 2.97 euros a piece, according to an Athens bourse filing today. The shares lost 0.3 percent to 2.95 euros.
To contact the reporter on this story: Natalie Weeks in Athens at firstname.lastname@example.org
To contact the editor responsible for this story: David Merritt at email@example.com