Investors in search of a sign to buy

Stocks continued their decline on the local bourse on Friday, with investors searching in vain for a sign to return to the market following another week of low turnover.

The Athens Exchange (ATHEX) general index ended at 1,251.10 points, dropping 1.04 percent from Thursday?s close at 1,264.23 points. On a weekly basis the index lost 4.39 percent.

The blue chip FTSE/ATHEX 20 index declined 1.45 percent to end at 556.03 points.

ATEbank continued its nosedive with losses of 8 percent, by far the worst for a blue chip on the day. It was followed by Piraeus Bank (down 3.88 percent), Alpha Bank (3.83 percent), Eurobank EFG (3.36 percent), Marfin Investment Group, Marfin Popular Bank (both 3.33 percent) and National Bank (3.31 percent). OPAP outperformed with gains of 3.70 percent. Ellaktor added 2.64 percent and Public Power Corporation climbed 1.18 percent.

In total, 46 stocks moved up, 78 went down and 51 remained unchanged. Pegasus Publications posted the highest gains, adding 18.75 percent, while Vioter was the worst off, with a decline of 20 percent.

Turnover came to just 66.3 million euros on Friday, against 101.7 million euros on Thursday.

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