BUSINESS

Fifth straight day of losses on Greek bourse

Stocks declined in their majority for the firth day in a row in the Greek market on Friday, painting the entire week in red as the benchmark suffered losses of 4.26 percent compared with the end of the previous week. Since the start of the year the index has seen marginal gains of just 0.02 percent.

The Athens Exchange (ATHEX) general index ended at 1,162.89 points, shedding 0.52 percent from Thursday’s 1,169.01 points. The large-cap FTSE/ATHEX 25 index contracted 0.63 percent to close at 372.41 points, while the mid-cap index expanded by 0.18 percent.

While losses were contained towards the end of the session, it is by no means certain that the selling momentum has ended, focusing as ever on the credit sector, with bank stocks shrinking by 6.14 percent during the week.

Piraeus Port Authority stood out among blue chips with a 2.88 percent growth, ahead of Jumbo, which added 1.61 percent. Motor Oil lost 3.73 percent and Ellaktor gave up 2.63 percent.

In total 40 stocks registered gains, 60 sustained losses and 20 remained unchanged.

Turnover amounted to 74.5 million euros, down from Thursday’s 77.2 million.

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