BUSINESS

ATHEX: Mild drop as investors take news in stride

TAGS: Stocks

There was a slight reaction to the news of a snag in the course of the bailout review talks at Athinon Avenue on Friday, but that only put a small dent in the gains chalked up at the end of a week of significant growth.

The Athens Exchange (ATHEX) general index closed at 666.06 points, shedding 0.65 percent from Thursday’s 670.42 points. On a weekly basis it rose 4.78 percent and on a quarterly basis it expanded 3.48 percent.

The large-cap FTSE 25 index contracted 0.73 percent to 1,778.63 points, while mid-caps expanded 0.23 percent.

The end to the rising streak was seen by many more as a move by investors to cash in recent gains rather than fear the review progress already priced in could come to nothing, again.

Banks gave up 2.71 percent, with Alpha falling 4.55 percent, Piraeus dropping 2.86 percent and Eurobank surrendering 2.21 percent. National bucked the trend, rising 0.42 percent. Sarantis jumped 3.30 percent and PPC improved 2.81 percent.

In total 39 stocks registered gains, 57 reported losses and 22 remained unchanged.

Turnover came to 64.5 million euros, up from Thursday’s 50.3 million.

In Nicosia the general index of the Cyprus Stock Exchange advanced 0.93 percent to 68.08 points.

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