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Banks take weekly bourse losses to 4 pct

Sellers had a field day the local bourse on Friday, sending the benchmark below the 1,200-point mark after seven sessions on the same day that Eurobank grabbed 50.5 percent of all trading with the introduction of its new shares, taking total turnover to more than 320 million euros.

The Athens Exchange (ATHEX) general index closed at 1,191.70 points, the lowest in the last 15 sessions, shedding 2.69 percent from Thursday’s 1,224.69 points. On a weekly basis the main index gave up 3.91 percent.

The large-cap FTSE/ATHEX 25 contracted 2.90 percent to close at 382.13 points, while small-cap losses were contained to 0.21 percent.

Banks experienced their fourth biggest drop this year, amounting to 4.83 percent, as besides the new Eurobank shares, Alpha slumped 6.61 percent and Piraeus declined by 4.55 percent. Frigoglass fared even worse, dropping 7.58 percent. Marfin Investment Group was the blue chip with the highest growth, as it added 5.49 percent.

Losing stocks outnumbered the gainers 13 to six, as 42 went up, 91 headed south and 11 ended unchanged.

Turnover amounted to 324.5 million euros, compared with Thursday’s 117.2 million.

ekathimerini.com , Friday May 9, 2014 (22:22)  
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