ECONOMY

GDP news boosts stocks and turnover to cap week of gains

Local stocks posted gains on Friday on the surprisingly good news that the gross domestic product contraction in the second quarter of the year was smaller than expected, which also resulted in a turnover soaring to its highest in a week.

The Athens Exchange (ATHEX) general index closed at 939.34 points, adding 1.03 percent to Thursday’s 929.78 points. On a weekly basis the index added 4.38 percent.

The FTSE/ATHEX 25 index rose 0.75 percent to end at 322.31 points, although the small-cap index fell 0.32 percent.

Viohalco (up 3.14 percent) outperformed, while Folli Follie (down 1.79 percent) was the worst off.

In total 78 stocks recorded gains, 59 posted losses and 19 stayed unchanged.

Turnover amounted to 61.5 million euros, more than twice Thursday’s 28.2 million.