STOCKS

ATHEX: Bourse index recovers most lost ground

ATHEX: Bourse index recovers most lost ground

The Greek bourse benchmark on Friday recovered more than two-thirds of the major losses it had suffered on Thursday, bouncing back above 900 points and showing that much as geopolitical concerns are important, the local economy is not expected to suffer too great a problem from developments in Eastern Europe.

Turnover was also significant, at over three-quarters of that recorded on Thursday.

The Athens Exchange (ATHEX) general index closed at 927.25 points, adding 4.38% to Thursday’s 888.31 points. On a weekly basis it lost 3%.

The large-cap FTSE-25 index expanded 4.29%, ending at 2,257.96 points and the banks index advanced 5.91%, as Eurobank and National rose 6.47% and Piraeus earned 6.38%. Coca-Cola HBC rebounded 4.71% after shuttering its factory in Ukraine and telling local staff to stay home and safe.

In total 112 stocks enjoyed gains, nine remained unchanged, and only one, Lazaridis, posted a decline, of 2.27%.

Turnover amounted to €122.8 million, down from Thursday’s €162.3 million.

In Nicosia, the general index of the Cyprus Stock Exchange increased 3.10% to close at 69.42 points.