ECONOMY

Daily gains for bourse index cancel out weekly losses

Local stocks headed north and south and back again several times on Friday before the majority ended with gains at the close of trade, led by the banking sector, whose index added 4.08 percent on the day.

The Athens Exchange (ATHEX) general index ended at 801.99 points, adding 0.92 percent from Thursday?s closing figure of 794.67 points. On a weekly basis, the index fell marginally by 0.03 percent.

The blue chip FTSE/ATHEX 20 index expanded by 1.60 percent to close at 292.34 points, with Piraeus Bank leading the way (up 7.96 percent), followed by Alpha Bank (5.85 percent) and Marfin Investment Group (4 percent). Motor Oil led the losers (down 1.74 percent).

OPAP gained 1.08 percent, although its revenues are expected to suffer a 5 percent decline due to the budget provision for all gaming earnings to be taxed from the first euro. Its agents staged another strike on Friday.

In total 73 stocks showed a rise, 47 registered a decline and 17 remained unchanged.

Turnover amounted to 50.1 million euros, down from Thursday?s 61 million.