ATHEX: Stock surge runs out of steam

ATHEX: Stock surge runs out of steam

News from the Fed and the rebalancing of the FTSE index dominated play in the last bourse session of the week in Athens, with the stock recovery proving more anaemic than it had promised earlier in the day, while turnover soared. Banks made a neutral contribution to proceedings as early gains for their index evaporated, led by Eurobank’s decline.

The Athens Exchange (ATHEX) general index closed at 825.41 points, adding 1.24% to Thursday’s 815.27 points. On a weekly basis it contracted 4.31%.

The large-cap FTSE-25 index expanded 1.08%, ending at 1,986.75 points, but the banks index only rose 0.10% as Eurobank dropped 1.49%. Piraeus climbed 1.51%, Alpha grew 1.42% and National edged up 0.20%. Terna Energy soared 6.81%, GEK Terna rose 3.88%, PPC collected 3.36% and Coca-Cola HBC continued its ascent, grabbing 2.95%, just as Quest Holdings gave up 2.13%.

In total 65 stocks enjoyed gains, 36 endured losses and 15 remained unchanged.

Turnover came to 170.1 million euros, up from Thursday’s €80.4 million.

In Nicosia, the general index of the Cyprus Stock Exchange decreased 0.78% to 70.92 points.

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