ECONOMY

Weekly rise of 6.4 pct for ATHEX

After six weeks of losses the local bourse finally managed to post a weekly benchmark rise on Friday, climbing 6.39 percent from the previous Friday, although it again proved unable to clear the 1,000-point mark at the close, having reached 1,008 points during the course of the session.

The Athens Exchange (ATHEX) general index ended at 991.33 points, 0.13 percent up on Thursday’s 990.04 points. The large-cap FTSE/ATHEX 25 index expanded 0.22 percent to 324.67 points, although small-caps dropped 0.82 percent.

The stock market has already factored in a positive outcome to the banks’ stress tests, expecting National and Eurobank to cover any capital needs with ease, but the prospects of healthy growth in the credit sector continued to buoy the banks index, securing it gains of 2.94 percent on Friday.

Eurobank rose 5.36 percent and Piraeus climbed 4 percent, while Public Power Corporation fell 4.41 percent.

In total 51 stocks reported gains, 64 headed lower and 19 remained unchanged.

Turnover amounted to 130.7 million euros, up from Thursday’s 76.4 million.