ECONOMY

Bourse posts weekly gains of 11.7 percent

Expectations of a deal between Greece and its creditors and European Central Bank President Mario Draghi’s statements for further support to the economy if necessary, which were well received across the eurozone, sent the Greek bourse benchmark mighty close to the 1,000-point mark on Friday, a rather unlikely outcome to the week considering the miserable series of sessions leading up to the rally.

The Athens Exchange (ATHEX) general index ended at 995.07 points, adding 3.67 percent to Thursday’s 959.85 points. The large-cap FTSE/ATHEX 25 index expanded 4.07 percent to 322.81 points.

The benchmark has therefore added a remarkable 11.71 percent on a weekly basis, while the banks index grew by almost 18 percent week-on-week. The increase in turnover was another positive element of the week’s last session.

Hellenic Exchanges outperformed with a rise of 6.90 percent, while Eurobank added 6.64 percent and OTE telecom rose 6.37 percent. Ellaktor (down 0.37 percent) and Titan Cement (0.20 percent) were the only large-caps to head south.

In total 88 stocks registered gains, 33 recorded losses and 22 remained unchanged.

Turnover amounted to 112 million euros, the highest of the week, up from Thursday’s 74 million.