STOCKS

ATHEX: Alpha drags bourse index 2.35% lower

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Alpha Bank’s stock plunge following the announcement of an 800-million-euro share capital increase led the Greek bourse to a new month-low on Friday. With turnover at almost €200 million, over 1 billion euros was wiped off the local market’s capitalization in one day.

The Athens Exchange (ATHEX) general index closed at 867.56 points, shedding 2.35% from Thursday’s 888.41 points. On a weekly basis it declined 4.36%.

The large-cap FTSE 25 index contracted 3.06% to close at 2,085.55 points and the banks index sank 10.93% due to Alpha’s 27.21% nosedive.

Piraeus Bank gave up 5.70%, Eurobank lost 4.13%, National Bank eased 3.65% and Terna Energy parted with 2.46%, but Aegean Airlines soared 4.35%, Titan Cement improved 2.53%, Coca-Cola HBC earned 1.72% and Public Power Corporation expanded 1.66%.

In total 29 stocks showed gains, 70 registered losses and 14 remained unchanged.

Turnover amounted to €199.3 million, up from Thursday’s €83.6 million.

In Nicosia, the general index of the Cyprus Stock Exchange decreased 2.13% to close at 62.85 points.