Bank stocks rack up monthly gains of over 32 pct

Following a relatively quiet session with low turnover, the most notable news to come out of the local bourse on Friday was the 32.5 percent monthly rise posted by the bank stocks index.

The Athens Exchange (ATHEX) general index ended at 739.12 points, dropping 0.45 percent from Thursday?s 742.44 points. The blue chip FTSE/ATHEX 20 index fell 0.38 percent, to close at 267.89 points. The mid-cap index on the other hand posted a 0.95 percent rise.

On a weekly basis the main index put an end to its eight-week rising streak, as it contracted by 4.73 percent from the previous Friday.

Alpha Bank registered gains of 3.11 percent on rumors of being the chosen suitor for Emporiki. Titan and Ellaktor fared even better, climbing 4.90 percent and 4.51 percent respectively. Cyprus Popular Bank gave up 5.41 percent.

In total, 58 stocks secured gains, 67 registered losses and 30 remained unchanged.

Turnover came to 36.1 million euros, the lowest of the last 18 sessions, down from Thursday?s 39.5 million.

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