ECONOMY

Bourse posts weekly gains of 3.26 percent

Stocks were split down the middle between gainers and losers on Friday as the market nervously observes the simmering tensions between the government and the eurozone, with the outcome of negotiations being all the more uncertain. The benchmark added half a percentage point to bring its weekly gains to 3.26 percent.

The Athens Exchange (ATHEX) general index closed at 768.67 points, adding 0.50 percent to Thursday’s 764.88 points. The large-cap FTSE/ATHEX 25 index expanded just 0.07 percent to end at 227.09 points.

Ever more traders are coming to terms with the prospect of a possible default as long as there is no concrete progress in the relationship between Athens and its creditors. This explains the 11.5 percent weekly decline in average daily turnover during the week.

Piraeus Bank (up 5.92 percent) and PPC (5.19 percent) outperformed among blue chips, while Marfin Investment Group gave up 11.88 percent.

In total 56 stocks posted gains, another 56 sustained losses and 17 remained unchanged.

Turnover amounted to 89.5 million euros, up from Thursday’s 77.8 million.