ECONOMY

French rating woes send index back in red

After two days of growth, local stocks returned to a southbound course on Friday, affected by fears of France?s credit rating being revised lower.

The Athens Exchange (ATHEX) general index ended the day at 655.91 points, shedding 0.64 percent from Thursday?s closing figure of 660.14 points. The blue chip FTSE/ATHEX 20 index dropped 1.14 percent to close at 250.53 points.

Piraeus Bank plummeted 21.27 percent, followed at some distance by Alpha Bank (down 10 percent). Titan cement outperformed on the day with gains of 7.01 percent.

In total, 64 stocks registered gains, 88 posted losses and 26 remained unchanged.

Turnover soared to 49 million euros from Thursday?s 25.7 million.