ECONOMY

Seven-month stock slide comes to halt

The local market’s seven-month slide came to an end in November, with the month providing a 5.17 percent boost to the benchmark, which looks more like a correction considering the previous period of losses. The growth trend was confirmed on Friday as traders gave a final push to the main index, although many observers argue that was little more than window dressing.

The Athens Exchange (ATHEX) general index closed at 963.19 points, adding 1.29 percent to Thursday’s 950.95 points. On a weekly basis it contracted by 3.20 percent.

The large-cap FTSE/ATHEX 25 index expanded 1.10 percent to 312.96 points on Friday, while mid-caps outperformed with gains of 2.84 percent.

Folli Follie outshone its blue chip peers, advancing 6.16 percent and narrowly beating Motor Oil (up 5.85 percent). The OPAP gaming company rose 3.92 percent. Piraeus Bank contracted 2.40 percent and Intralot gave up 1.67 percent.

In total 59 stocks reported gains, 45 sustained losses and 24 remained unchanged.

Turnover amounted to 78.7 million euros, down from Thursday’s 84.9 million.