BUSINESS

ATHEX: Stock market benchmark rises at end of losing week

TAGS: Stocks

Buyers made a comeback at the Greek stock market on Friday, as they took the benchmark more than 1 percent higher while turnover surged above 150 million euros. The market appeared to have been expecting that Greece’s credit rating would be upgraded by Standard & Poor’s.

The Athens Exchange (ATHEX) general index ended at 847.56 points, adding 1.19 percent to Thursday’s 837.56 points. However, on a weekly basis it declined 0.42 percent.

The large-cap FTSE-25 index expanded 1.12 percent to 2,181.91 points and the banks index rose 2.01 percent.

OTE telecom outperformed with a 4.77 percent advance, followed by Eurobank (up 3.47 percent).

In total 79 stocks made gains, 29 took losses and 24 closed unchanged.

Turnover amounted to 158.7 million euros, almost three times Thursday’s 54.6 million, as it included the transfer of 12 million shares of Terna Energy to foreign institutionals totaling 52.2 million euros.

In Nicosia the Cyprus Stock Exchange general index slipped 0.01 percent to 68.87 points.

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