ECONOMY

ATHEX: Stocks chalk up weekly gains of 4.2 pct

athex-stocks-chalk-up-weekly-gains-of-4-2-pct

As the prospect of a pro-European coalition government grows increasingly likely ahead of the upcoming elections, according to experts’ estimates and opinion polls, traders are warming to the idea of returning to the Greek market – as the London Roadshow revealed this week – but don’t want to position themselves until the political situation becomes clearer. This explains stocks’ moderate growth this week on very low trading volume.

The Athens Exchange (ATHEX) general index closed on Friday at 673.84 points, shedding 0.19 percent from Thursday’s 675.10 points. On a weekly basis it added 4.21 percent.

The large-cap FTSE 25 index contracted 0.26 percent to end at 196.76 points, but the mid-cap index expanded 0.13 percent.

Blue chips showed a mixed picture on Friday, as Alpha Bank advanced 5.56 percent, Jumbo climbed 3.15 percent and EYDAP rose 2.65 percent, while Eurobank gave up 4.55 percent, National Bank declined 3.28 percent and GEK Terna dropped 2.40 percent.

In total 45 stocks reported gains, 50 recorded losses and 17 remained unchanged.

Turnover amounted to 27.8 million euros, down from Thursday’s 33.8 million.