ECONOMY

Bourse index climbs to new 18-mth high

Clocking up a second week of growth on Friday, the local bourse’s benchmark index posted a 2.17 percent rise compared to the previous Friday during a session when it also hit its highest point in the last 18 months, as interest returned to bank stocks.

The Athens Exchange (ATHEX) general index closed at 1,044.76 points, adding 1.19 percent to Thursday’s 1,032.43 points. The large-cap FTSE/ATHEX-25 index grew by 1.45 percent, ending at 350.47 points.

Observers note that since the main index has consolidated itself above the 1,000-point mark, the prospects next week are for further gains, despite the stagnation seen in bank stocks, which gave up 9.06 percent this week.

On Friday Bank of Cyprus outperformed, adding 5.22 percent, ahead of Intralot (up 5 percent), Marfin Investment Group (4.38 percent) and OPAP (4.20 percent).

National Bank climbed above the 1-euro level to 1.01 euros, adding 2.02 percent.

On the other hand, Eurobank Properties gave up 3.78 percent and Eurobank Ergasias declined by 2.77 percent.

In total 92 stocks went up, 57 came down and 22 remained unchanged.

Turnover amounted to 66 million euros, slightly lower than Thursday’s 67 million.