ECONOMY

Week ends with Athens bourse losses of 6 pct

Athens’s lack of progress in its negotiations with the country’s creditors and increasing talk of a Greek eurozone exit weighed heavily on local stocks on Friday, forcing losses of exactly 3 percent on the benchmark. Trading volume rose on the increase in sales.

The Athens Exchange (ATHEX) general index ended at 729.81 points, down from Thursday’s 752.37 points. On a weekly basis it gave up 5.96 percent.

The large-cap FTSE/ATHEX 25 index contracted 3.11 percent to close at 215.47 points.

The banks index has reached a new 29-year low after crumbling 20 percent in the four-day week that has just ended. On Friday National lost 9.53 percent and Alpha declined 7.27, but Eurobank recovered 3.49 percent.

Piraeus Port Authority outperformed, adding 5.18 percent, while Jumbo gave up 7.22 percent and OPAP slid 5.44 percent.

In total 42 stocks posted gains, 68 sustained losses and 13 stayed unchanged.

Turnover came to 85.2 million euros, up from Thursday’s 67.3 million.