ECONOMY

Banks and OPAP bear brunt of sales

Pressure on banks – stemming from news that Greek lenders are resorting to emergency liquidity assistance from the Bank of Greece – and across the market – from statements by candidates in next weekend’s election – led the benchmark back below the 800-point mark on increased turnover on Friday.

The Athens Exchange (ATHEX) general index closed at 790.59 points, shedding 1.79 percent from Thursday’s 805 points. However on a weekly basis it recorded a 1.41 percent growth. The large-cap FTSE/ATHEX 25 index contracted 2.22 percent to end at 252.56 points.

Banks suffered losses of 4.63 percent, with the two lenders that resorted to the ELA shedding over 6 percent: Alpha Bank dropped 6.42 percent and Eurobank fell 6.08 percent to a historic low of just 17 cents per share. OPAP, whose privatization opposition party SYRIZA says it does not recognize, declined 7.21 percent.

Among the few blue chips that headed north, OTE telecom added 2.61 percent and Folli Follie climbed 0.93 percent.

In total 38 stocks reported gains, 70 registered losses and 19 remained unchanged.

Turnover was the highest of the last seven sessions, amounting to 97.6 million euros, up from Thursday’s 77.7 million.