BUSINESS

ATHEX: Reaction to drop contains weekly losses

TAGS: Stocks

Significant losses over the previous days prompted a reaction from investors in the Greek stock market on Friday, in line with the rebound noted in most European bourses. However the benchmark ended the week almost 5 percent worse off, largely due to the handout package announced by the government on Tuesday.

The Athens Exchange (ATHEX) general index closed at 736.01 points, adding 1.01 percent to Thursday’s 728.62 closing. On a weekly basis it declined by 4.95 percent.

The large-cap FTSE-25 index expanded 0.43 percent to 1,905.32 points and the banks index increased 3.58 percent, as traders had one eye on the upcoming announcement of the MSCI index rebalancing on Monday. National soared 8.51 percent, Piraeus earned 2.88 percent, Eurobank grew 2.54 percent and Alpha improved 1.48 percent. Other gainers included Piraeus Port Authority (up 7.11 percent), GEK Terna (2.28 percent) and Grivalia Properties (1.82 percent). Public Power Corporation shrank 3.56 percent.

In total 69 stocks headed higher, 34 suffered losses and 22 remained unchanged.

Turnover amounted to 50.5 million euros, down from Thursday’s 53.4 million.

In Nicosia the Cyprus Stock Exchange advanced 0.23 percent to close at 70.49 points.

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