ECONOMY

ATHEX: Bourse bucks continental trend to close 1.73 pct lower

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Greek stocks slipped on Friday despite the favorable climate elsewhere around Europe that saw benchmarks rising to three-month highs. The National Bank limit-down and Piraeus Bank’s major slide weighed heavily on the local market, which was also affected by the reduction in the government’s parliamentary majority, while trading volume dropped below 30 million euros.

The Athens Exchange (ATHEX) general index closed at 658.84 points, shedding 1.73 percent from Thursday’s 670.45 points. On a weekly basis it advanced 0.95 percent, while the book-building week saw bank chips slump 38.5 percent.

The large-cap FTSE 25 index on Friday contracted 1.90 percent to end at 196.62 points, as National fell 30 percent and Piraeus Bank dropped 28.57 percent. Eurobank outperformed, climbing 6.25 percent, and Jumbo added 1.71 percent.

In total 32 stocks posted growth, 52 suffered losses and 27 stayed unchanged.

Turnover amounted to 29.5 million euros, down from Thursday’s 38.6 million.