ECONOMY

ATHEX: Week ends with losses of 4.8 percent for stock index

athex-week-ends-with-losses-of-4-8-percent-for-stock-index

Stocks declined for a third week in a row while the benchmark posted small gains on Friday. However, the improving turnover appears quite promising and the lifting of capital control restrictions on domestic traders and the rebalancing of indices has seen an increase in investor activity, with the end of the year just around the corner.

The Athens Exchange (ATHEX) general index closed at 578.30 points, adding 0.31 percent to Thursday’s 576.51 points. On a weekly basis the benchmark recorded losses of 4.82 percent, while the banks index rose 12.3 percent from last Friday.

The large-cap FTSE 25 index contracted 0.08 percent on Friday to end at 169.97 points.

Reports said on Friday that the Bank of Greece has approved an extension to the share capital increase process for Attica and the cooperative lenders to prevent them from going into resolution. Attica Bank gained 6.31 percent in response while the banks index advanced 4.27 percent.

In total 34 stocks expanded, 57 declined and 19 closed unchanged.

Turnover amounted to 163 million euros, up from Thursday’s 127.2 million.