BUSINESS

ATHEX: Benchmark drops on lower trading volume

TAGS: Stocks

Local stocks headed south in the week’s last session, with blue chips – led by banks – clearly suffering after government spokesman Dimitris Tzanakopoulos’s statement that the time of the bailout review’s completion is unknown. The continued drop in trading volume is another factor worrying market observers.

The Athens Exchange (ATHEX) general index closed at 649.73 points, shedding 0.96 percent from Wednesday’s 656.04 points. On a weekly basis it advanced 0.68 percent – marking a third consecutive week of growth.

The large-cap FTSE 25 index fell 0.94 percent on Friday to 1,736.30 points, while mid-caps expanded 0.23 percent.

National (down 3.15 percent), Alpha (2.25 percent) and Eurobank (1.88 percent) ended at the day’s low, leading to a drop of 2.44 percent for the banks index. Piraeus Bank fared no better, ending 2.65 percent lower.

Public Power Corporation was the worst off, surrendering 3.18 percent.

In total 49 stocks registered gains, another 49 sustained losses and 33 remained unchanged.

Turnover amounted to 30.2 million euros, down from Thursday’s 32.7 million.

In Nicosia the general index of the Cyprus Stock Exchange gave up 0.33 percent to close at 66.78 points.

Online