BUSINESS

ATHEX: Daily stock gains alleviate weekly losses

TAGS: Stocks

The Greek stock market’s trading week – dominated by the Folli Follie saga and talk of the upcoming independent probe into the listed company – ended on Friday with a session of moderate gains that reduced the impact of losses recorded in previous sessions. However, Greek stocks’ apparent vulnerability to speculation does not bode well for the future.

The Athens Exchange (ATHEX) general index ended at 822.37 points, adding 0.58 percent to Thursday’s 817.66 points. On a weekly basis its losses were contained to just 0.18 percent. The large-cap FTSE-25 index expanded 0.39 percent to 2,147.72 points and mid-caps jumped 2.08 percent.

The banks index improved for a fifth day in a row, by 1.68 percent. National grew 3.25 percent, Eurobank increased 2.02 percent and Alpha ascended 1.36 percent, while Piraeus slipped 0.49 percent.

Folli Follie dominated for another day with its 8.59 percent decline, but Aegean Air climbed 2.71 percent and Hellenic Exchanges rose 2.38 percent.

In total 74 stocks posted gains, 39 took losses and 18 stayed put.

Turnover reached 56 million euros, up from Thursday’s 53.2 million.

In Nicosia the Cyprus Stock Exchange general index advanced 0.23 percent to close at 65.90 points.

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