BUSINESS

ATHEX: Morning gains disappear as traders cash in

TAGS: Stocks

The early gains observed during trading on Friday in Athens had all been cashed in by the end of the session as investors seemed to have factored in the outcome of the Eurogroup in Luxembourg and were not as impressed as bond buyers. The closing auctions brought most indexes down to their day-low, with PPC also weighing on the benchmark, but this time turnover topped 80 million euros.

The Athens Exchange (ATHEX) general index ended at 771.18 points, shedding 0.22 percent from Thursday’s 772.89 points, despite having been up by 2.50 percent in early trade. On a weekly basis it expanded 1.01 percent.

The large-cap FTSE-25 index contracted 0.42 percent to 2,015.05 points.

The banks index edged 0.03 percent lower, with a range of different fortunes: Alpha rose 2.04 percent, Piraeus added 0.20 percent, Eurobank slid 1.55 percent and National gave up 2.03 percent. PPC fell 6.28 percent.

In total 41 stocks posted gains, 62 declined and 27 stayed put.

In the first half-hour of trading turnover reached 16.7 million euros. It ended the day at 81 million euros, up from Thursday’s 53.7 million.

In Nicosia the Cyprus Stock Exchange general index remained unchanged at 68.84 points.

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