ECONOMY

Bourse chalks up weekly gains of 4.6 pct

Weekly gains on the Greek bourse came to 4.60 percent after a session during which the benchmark temporarily climbed 1.7 percent, driven by growth in New York and the December triple witching, before following the rest of the eurozone markets and registering losses of more than 1 percent. Allegations that opposition MPs faced attempts at bribery ahead of the presidential election also weighed on stocks.

The Athens Exchange (ATHEX) general index closed at 862.40 points, shedding 1.41 percent from Thursday’s 874.69 points. The large-cap FTSE/ATHEX 25 index contracted 1.50 percent to end at 275.64 points.

While the Christmas season in Greece usually only sees sluggish trade, the political turmoil is making the latter half of this December particularly interesting, to say nothing of the start of next year.

Piraeus Bank capitalized on its deal with US fund KKR Credit, enjoying a rise of 4.81 percent on Friday, beaten only by Marfin Investment group (up 5.03 percent). Folli Follie lost 8.07 percent and Jumbo gave up 6.31 percent.

In total 51 stocks recorded gains, 53 suffered losses and 24 remained unchanged.

Turnover reached 103.6 million euros, up from Thursday’s 94 million.