BUSINESS

ATHEX: Bank stock losses erase weekly gains for benchmark

TAGS: Stocks

The lack of progress on debt relief and the bailout review, the nondisbursement of 1 billion euros of bailout aid and the stalled talks with the Former Yugoslav Republic of Macedonia resulted in another session of losses for the benchmark of the Greek stock market on Friday, with banks suffering the greatest pressure.

The Athens Exchange (ATHEX) general index ended at 773.06 points, shedding 0.71 percent from Thursday’s 778.62 points. On a weekly basis it gave up 0.48 percent.

The large-cap FTSE-25 index contracted 0.64 percent to 2,027.53 points, while small-caps edged 0.14 percent higher.

The banks index lost 2.61 percent, as National slumped 4.61 percent. Piraeus fell 4.34 percent and Alpha conceded 2.67 percent while Eurobank rose 0.21 percent.

In total 47 stocks posted gains, 50 sustained losses and 31 stayed put.

Turnover came to 47.1 million euros, up from Thursday’s 37.7 million.

In Nicosia the Cyprus Stock Exchange general index expanded 0.42 percent to close at 69.39 points.

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