BUSINESS

ATHEX: Mixed picture as traders wait

TAGS: Stocks

The wait-and-see strategy adopted by many traders on the Greek bourse ahead of Sunday’s referendum in Italy and Monday’s Eurogroup, which will discuss the progress of the Greek bailout review, resulted on Friday in a mixed picture at the end of a week of contraction for the benchmark at Athinon Avenue.

The Athens Exchange (ATHEX) general index closed at 613.95 points, shedding 0.11 percent from Thursday’s 614.61 points. On a weekly basis it declined 1.51 percent.

Nevertheless the large-cap FTSE 25 index expanded 0.05 percent on Friday to close at 1,665.46 points, as many non-bank blue chips recovered over the course of the day to offset their morning losses. Utilities led the way as Public Power Corporation jumped 3.33 percent and OTE telecom advanced 2.33 percent. Folli Follie stayed in the red all day, closing 4.07 percent down.

The banks index slid 1.89 percent as Alpha decreased 2.72 percent and Piraeus shrank 2 percent.

In total 39 stocks posted gains, 54 recorded losses and 15 remained unchanged.

Turnover amounted to 55.6 million euros, down from Thursday’s 83.9 million.

In Nicosia the general index of the Cyprus Stock Exchange fell 0.85 percent to close at 64.03 points.

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