ECONOMY

Investors no fans of gov?t plan

Investors clearly did not approve of the government?s privatization plan unveiled on Friday, as stocks headed into the red toward the end of the day?s session.

The Athens Exchange (ATHEX) general index ended at 1,469.03 points, declining by 1.26 percent from Thursday?s close at 1,487.76 points. Interestingly, during Prime Minister George Papandreou?s speech on Friday, which shot down any thought of a debt restructuring, the main index climbed by up to 1.37 percent. The blue chip FTSE/ATHEX 20 index contracted by 1.19 percent to end at 670.36 points.

The week has therefore ended with losses of 4.06 percent for the main index, while the banks? sectoral index declined by 8.06 percent week-on-week.

OTE telecom, Titan cement and Jumbo posted gains of at least 1 percent, but most blue chips headed south, led by Hellenic Postbank (down 5.86 percent), Eurobank EFG (3.79 percent) and Alpha Bank (3.04 percent).

In total, 52 stocks moved up, 93 went down and 44 remained unchanged.

Turnover came to 106.1 million euros.