ECONOMY

Tsipras statements send stocks tumbling

Statements by the SYRIZA leader about his party?s government program inflicted major losses on the local bourse on Friday.

In particular, Alexis Tsipras?s warning that his party would nationalize banks that have received billions of euros in assistance sent the bank index tumbling 4.97 percent.

The Athens Exchange (ATHEX) general index ended at 501.90 points, shedding 4.48 percent from Thursday?s closing figure of 525.45 points. On a weekly basis the main index added 3.45 percent. The blue chip FTSE/ATHEX 20 index shrank by 5.19 percent on Friday to close at 179.03 points.

All blue chips gave ground, led by Alpha Bank (down 13.98 percent).

In total, 24 stocks recorded gains, 92 posted losses and 22 remained unchanged.

Turnover amounted to 57 million euros, down from Thursday?s 168.2 million.