BUSINESS

ATHEX: Banks sink but benchmark holds ground

TAGS: Stocks

The benchmark of the Greek stock market hovered on Friday around the 20-month low it slumped to on Thursday and ended the day virtually unchanged. It registered a weekly decline of more than 2 percent, mainly due to Thursday’s steep drop.

The Athens Exchange (ATHEX) general index ended at 619.40 points, adding just 0.01 percent to Thursday’s 619.32 points. On a weekly basis it contracted 2.19 percent. The large-cap FTSE-25 index expanded 0.19 percent to 1,636.94 points on Friday.

Affected by conflicting reports on the sustainability of Greek bank stocks in the MSCI Standard emerging markets index, the banks index dropped 3.88 percent. Eurobank tumbled 8.91 percent, Piraeus sank 7.27 percent and National conceded 7.10 percent. Alpha, whose course often differs to the rest of Greece’s bank stocks, advanced 1.21 percent.

Viohalco outperformed, rising 4.84 percent, followed by Lamda Development (up 3 percent).

In total 46 stocks posted gains, 35 endured losses and 28 stayed put.

Turnover amounted to 42 million euros, down from Thursday’s 51 million.

In Nicosia the Cyprus Stock Exchange general index declined 0.37 percent to close at 66.73 points.

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