BUSINESS

ATHEX: Eurogroup news sinks stocks in Athens

Students who received distinctions for their projects on innovation and entrepreneurship in the context of Junior Achievement Greece’s ‘Virtual Enterprise’ program signaled the start of Friday’s bourse session, along with Athens Exchange chief executive Sokratis Lazaridis (center-right).

TAGS: Stocks

There was no hiding investors’ disappointment on Friday following Thursday’s Eurogroup, after which the distance between Athens and its creditors appeared to stretch wider. Greek stocks took a dive, reversing all of the gains the benchmark had recorded during the week.

The Athens Exchange (ATHEX) general index ended at 636.54 points, shedding 3.64 percent from Thursday’s 660.59 points. On a weekly basis it declined 0.41 percent. The large-cap FTSE 25 index contracted 3.52 percent to close at 1,710.77 points.

The banks index slumped 7.38 percent as the credit sector bore the brunt of investor pessimism. The drop was almost identical for all four main banks, ranging 7.72 percent for National’s to 7.11 percent for Piraeus.

PPC lost 5.65 percent and Terna Energy surrendered 4.71 percent, as all blue chips ended in the red.

In total 33 stocks reported gains, 87 suffered losses and nine stayed put.

Turnover amounted to 55.3 million euros, up from Thursday’s 52 million.

In Nicosia the Cyprus Stock Exchange general index conceded 1.63 percent to close at 69.22 points.

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