Political uncertainty generates major stock market slide

No prizes for predicting Friday’s sharp decline on the local bourse following the crisis that hit the coalition government on Thursday. All but one blue chips posted losses, while 2 billion euros was wiped from the market capitalization.

The Athens Exchange (ATHEX) general index closed at 830.01 points, slumping 6.11 percent from Thursday’s 884.02 points. On a weekly basis it lost 9.69 percent.

The large-cap FTSE/ATHEX-25 index fell 5.93 percent to 279.46 points.

National Bank gave up 11.44 percent, while the only blue chip to head north was Eurobank Properties, adding 9.75 percent.

In total, 32 stocks posted gains, 99 recorded losses and 19 stayed put.

Turnover grew to 69.5 million euros from Thursday’s 41.9 million.