BUSINESS

ATHEX: Stocks rally but still end lower on week

TAGS: Stocks

Bank stocks recovered on Friday after three consecutive days of decline – when their sectoral index gave up almost 7.5 percent – to give the rest of the bourse a push at the end of a losing week. With conflicting reports coming in regarding the International Monetary Fund’s participation in the Greek program, daily turnover climbed above the 50-million-euro mark as traders positioned themselves buying the various rumors.

The Athens Exchange (ATHEX) general index closed at 644.77 points, adding 1.36 percent to Wednesday’s 636.13 points. On a weekly basis it declined 0.59 percent.

The large-cap FTSE 25 index expanded 0.56 percent to 1,717.86 points and mid-caps outperformed, advancing 3.52 percent.

The banks index posted gains of 2.18 percent, driven higher by National (up 4.64 percent) and Piraeus (3.13 percent). METKA jumped 4.70 percent, Jumbo grew 4.35 percent and PPC rose 3.03 percent, as Coca-Cola HBC fell 1.53 percent.

In total 59 stocks enjoyed gains, 32 recorded losses and 35 remained unchanged.

Turnover amounted to 50.8 million euros, up from Thursday’s 33.1 million.

In Nicosia the general index of the Cyprus Stock Exchange shrank 1.22 percent to 66.32 points.

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