BUSINESS

ATHEX: Banks slump to their lowest level since February 2016

TAGS: Stocks

The escalation of the conflict between Italy and the European Commission and the deepening instability within the Greek government continued to weigh on Greek stock prices on Friday, with the benchmark ending both the session and the week in the red.

The ATHEX general index ended at 624.81 points, shedding 1.12 percent from Thursday’s 631.88 points. On a weekly basis it slipped 0.56 percent. The large-cap FTSE-25 index contracted 0.89 percent to 1,650.85 points.

The banks index dropped to a 32-month low after giving up 2.10 percent on Friday. Piraeus tumbled 4.97 percent, National conceded 2.32 percent, Alpha sank 2.18 percent and Eurobank shrank 0.66 percent.

In total 21 stocks recorded gains, 67 posted losses and 24 stayed put.

Turnover amounted to 37.2 million euros, up from Thursday’s 29.6 million.

In Nicosia the Cyprus Stock Exchange general index rose 0.82 percent to close at 67.40 percent.

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