ECONOMY

Bank stocks hit 9-month low as main index ends week in red

The Greek bourse’s banks index slumped to a nine-month low on Friday after losing 4.79 percent over the course of the session and dragging most other stocks lower too, resulting in the benchmark index ending the week in the red.

The Athens Exchange (ATHEX) general index closed at 990.42 points on Friday, shedding 1.74 percent from Thursday’s closing figure of 1,007.99 points. On a weekly basis it gave up 1.29 percent. The large-cap FTSE/ATHEX-25 index contracted by 2.27 percent, ending at 326.88 points.

Eurobank Ergasias ended its volatile week with daily gains of 6.23 percent, but its owner, National, fell 6.67 percent.

In total 46 stocks recorded gains, 94 sustained losses and 27 remained unchanged.

Turnover amounted to 45.3 million euros, down from Thursday’s 58.7 million.