ECONOMY

Big monthly drop for stocks

The local bourse lost about one-seventh of its capitalization in October as the benchmark declined 13.73 percent within the month despite Friday’s gains of almost 1 percent. The wave of global market euphoria generated by the Bank of Japan’s decision to expand its monetary easing plan came to the Greek market as no more than a ripple, given the firm southbound course the local market has been on in recent months. October was the seventh month of losses in a row.

The Athens Exchange (ATHEX) general index ended on Friday at 915.83 points, adding 0.98 percent to Thursday’s 906.97 points. On a weekly basis it dropped 7.62 percent. The large-cap FTSE/ATHEX 25 index expanded 1 percent to 299.27 points.

Five blue chips posted gains of more than 4 percent, led by EYDAP (up 4.95 percent) and Motor Oil (4.85 percent). Viohalco gave up 5.56 percent.

In total 45 stocks reported gains, 55 took losses and 22 remained unchanged.

Turnover amounted to 124.1 million euros, down from Thursday’s 180 million.