Alpha Bank, Motodynamic, NBG, Thessaloniki Port Move in Athens
Greece’s benchmark ASE Index dropped 22.11, or 1.4 percent, to 1,620.59 at the 5:20 p.m. close in Athens, after gaining the previous day.
The FTSE/ASE 20 Index of the country’s biggest companies lost 1.8 percent to 755.16. The Cyprus General Market Index fell 1.8 percent to 1,199.70.
The following shares were the most active in Athens trading today. Symbols are in parentheses.
Alpha Bank AE (ALPHA GA) fell 1.8 percent to 4.42 euros, paring a 3.2 percent gain the previous day. Greek banks face “big and complicated challenges” in 2011 with an expected increase in non-performing loans and credit expansion seen stagnating or declining, according to a report by the Bank of Greece. Eurobank Ergasias SA (EUROB GA) dropped 2.1 percent to 4.30 euros. National Bank of Greece SA (ETE GA) declined 2.4 percent to 7.30 euros. Piraeus Bank SA (TPEIR GA) lost 1.3 percent to 1.57 euros.
Motodynamic SA (MOTO GA) rose 6.3 percent to 68 cents, its biggest gain since Nov. 26. The marine and motorcycle engine importer and retailer signed an initial agreement with Porsche SE to represent the automobile company in Greece, according to an Athens bourse filing today. A final agreement is expected to be reached within two months, the company said.
Thessaloniki Port Authority SA (OLTH GA) gained 4.3 percent to 14.66 euros, rising for a third day. The operator of Greece’s second-biggest port is in talks with seven Israeli cruise and cargo shipping companies over possible maritime links, Naftemporiki reported.
To contact the reporter on this story: Tom Stoukas in Athens at firstname.lastname@example.org