Local bourse ends the week with gains of over 6.5 pct

The gains chalked up over the week by the Greek bourse’s benchmark index came to 6.61 percent on Friday as it edged higher for a seventh consecutive session.

The Athens Exchange (ATHEX) general index closed at 1,254.75 points, adding 0.80 percent to Thursday’s 1,250.07 points. The large-cap FTSE/ATHEX 25 expanded 0.49 percent to 410.05 points.

Optimists attribute the rise to the prospects of a Greek upgrade by a major rating agency, which has generated front running, while pessimists put the price growth down to the effect of selective leverage.

Titan Cement grew 3.66 percent and National Bank climbed 2.75 percent, while Frigoglass contracted by 2.22 percent and Ellaktor declined by 1.69 percent.

In total 67 stocks posted gains, 60 went down and 30 stayed put.

Turnover amounted to 77.9 million euros, down from Thursday’s 101.4 million.