BUSINESS

ATHEX: New pressure on banks take toll on index

TAGS: Stocks

Banks stock losses weighed on the Greek benchmark on Friday, as the main index headed south for the fourth day in a row. Some key blue chips held their ground, helping to contain the drop, but the benchmark still closed at the day’s low, mainly affected by developments in Europe and the US.

The ATHEX general index ended at 652.04 points, shedding 0.51 percent from Thursday’s 648.71 points. However, on a weekly basis it increased 2.93 percent, thanks to last Monday’s rally.

The large-cap FTSE-25 index contracted 0.46 percent to 1,697.22 points, but the mid-cap index expanded 1.12 percent.

The banks index slumped 2.59 percent, with Eurobank falling 3.12 percent, Alpha decreased 2.90 percent, Piraeus conceded 1.54 percent and National gave up 1.47 percent. PPC shrank 1.44 percent, dropping for a third consecutive day. Coca-Cola HBC rose 0.95 percent, Lamda Development grew 0.98 percent and Mytilineos improved 1.14 percent.

In total 37 stocks recorded gains, 39 registered losses and 40 remained unchanged.

Turnover amounted to 40 million euros, up from Thursday’s 37.8 million.

In Nicosia the Cyprus Stock Exchange general index advanced 0.36 percent to close at 66.89 points.

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