ECONOMY

ATHEX: Bourse ends session with weekly losses of 4.7 percent

athex-bourse-ends-session-with-weekly-losses-of-4-7-percent

The second week of the year has taken Greek stock market losses to almost 4.5 billion euros and knocked 11.55 percent off the benchmark, as the local bourse intensified its ongoing slide on Friday.

The Athens Exchange (ATHEX) general index closed at 558.45 points, shedding 2.70 percent from Thursday’s 573.92 points. On a weekly basis it gave up 4.70 percent.

The large-cap FTSE 25 index contracted 3.61 percent to 157.98 points on Friday, driven mainly by crumbling bank stocks.

Piraeus Bank ended up at an historic low of 0.213 euros, after slipping 13.77 percent on Friday and 23.38 percent since the start of the year. National Bank declined 6.60 percent, Alpha Bank fell 4.19 percent and Ellaktor dropped 3.94 percent.

Motor Oil (up 0.87 percent) and Aegean Air (0.14 percent) were the only blue chips to head north.

In total 27 stocks posted gains, 64 took losses and 20 remained unchanged.

Turnover amounted to 74.2 million euros, down from Thursday’s 118.6 million.