ECONOMY

ATHEX: Index sinks lower, approaches 600-pt mark

athex-index-sinks-lower-approaches-600-pt-mark

The continued pressure on Greek stocks has taken the market’s benchmark down to just above the 600-point level, after another week of losses driven by the major devaluation of bank chips.

The Athens Exchange (ATHEX) general index closed at 607.56 points, shedding 1.59 percent from Thursday’s 617.39 points. On a weekly basis it declined 6.50 percent.

The large-cap FTSE 25 index fell 2.34 percent to end at 178.93 points, but small-caps again danced to their own tune, advancing 1.33 percent.

Banks fell 4.08 percent from Thursday and 19.37 percent from last Friday, with the loss of prestige set to be sealed by the exit of National Bank from the EuroStoxx 600 index on December 18. It fell 23.97 percent on Friday. Attica Bank made a hopeful return to the bourse with its new shares, gaining 2.03 percent.

Lamda Development outperformed again, rising 5.85 percent, while Jumbo gave up 5.05 percent.

In total 36 stocks posted gains, 59 took losses and 11 closed unchanged.

Turnover amounted to 64.6 million euros, down from Thursday’s 86.1 million.