ECONOMY

ATHEX: Bank chips fall 20 pct in week

athex-bank-chips-fall-20-pct-in-week

The Greek bourse ended another week in the red on Friday, as the plans that banks have prepared to meet their capital requirements have not pleased existing shareholders at all, leading to losses not only for credit sector chips but also for the majority of local stocks. The likely delay in the disbursement of the 2-billion-euro bailout tranche has not helped matters either.

The Athens Exchange (ATHEX) general index closed yesterday at 677.43 points, shedding 1.33 percent from Thursday’s 686.59 points. On a weekly basis it gave up 3.34 percent.

The large-cap FTSE 25 index contracted 2.07 percent, ending at 201.39 points, though small-caps added 0.41 percent.

Banks lost another 5.08 percent on Friday – bringing their weekly decline to 19.57 percent – with Alpha falling 11.82 percent, National conceding 3.67 percent and Piraeus dropping to a historic low of 0.056 euros with its 1.75 percent slide. Viohalco expanded 1.36 percent.

In total 48 stocks enjoyed gains, 55 took losses and 19 remained unchanged.

Turnover amounted to 44.3 million euros, down from Thursday’s 47.3 million.