Stocks edge higher as market waits for next week’s news

The lowest turnover of the last 35 sessions on the local bourse saw the main index edging higher on Friday, indicating that investors are reserved at this stage and waiting for the market to take a different course next week. The Eurogroup verdict on the bailout tranche disbursement on Tuesday and any progress on the privatizations front will determine the direction stocks will take in the short term.

The Athens Exchange (ATHEX) general index ended at 790.49 points, adding 0.31 percent to Thursday’s closing figure of 788.06 points. On a weekly basis the benchmark index declined for a third week in succession, yielding 1.43 percent. However, the banks’ sectoral index incurred far heavier weekly losses, going down by 15.03 percent.

Blue chips took a step northward on Friday as their FTSE/ATHEX 20 index expanded by 0.36 percent to close at 279.11 points. They were led by Piraeus Bank (up 6.13 percent), while Marfin Investment Group declined by 3.38 percent.

In total 78 stocks grew, 52 declined and 27 remained unchanged.

Turnover amounted to 39.1 million euros, down from Thursday’s 44.5 million.

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