ECONOMY

Index sees all of Thursday?s gains wiped out

As Thursday?s optimism for the formation of a coalition government evaporated on Friday, so did the day?s gains registered by local stocks, sending the main index to new 20-year lows at the end of the week.

The Athens Exchange (ATHEX) general index ended the day at 611.96 points, declining by 4.52 percent from Thursday?s closing figure of 640.91 points. The blue chip FTSE/ATHEX 20 index gave up 5.15 percent to close at 231.67 points.

This was a particularly difficult week for bank stocks, in the aftermath of the elections, as they lost 16.3 percent of their value.

However its was Public Power Corporation that led the losers on Friday, shedding 12.09 percent.

In total, 39 stocks recorded gains, 84 posted losses and 16 remained unchanged.

Turnover soared to 147.2 million euros from Thursday?s 27.2 million.