ECONOMY

ATHEX: Sweet end to another bitter trading week

athex-sweet-end-to-another-bitter-trading-week

The Greek bourse’s third southbound week of the year ended with a session of gains for both the majority of stocks and the benchmark, illustrating the high volatility of a market that can be affected by just a flutter of activity, such as Friday’s recovery of oversold bank stocks.

The Athens Exchange (ATHEX) general index closed at 534.34 points, adding 2.17 percent to Thursday’s 523.01 points. On a weekly basis it shrank 4.32 percent.

The large-cap FTSE 25 index expanded on Friday by 3.76 percent to end at 148.28 points, but this growth did not affect mid-caps, which rose just 0.09 percent, or small-caps, that witnessed a 0.06 percent contraction.

The banks index suffered losses of 16.03 percent over the week, but on Friday it advanced 6.94 percent, driven by a Piraeus Bank rebound of 14.09 percent after the losses recorded in previous days, and National Bank, which climbed 10.67 percent. Eurobank rose 8.66 percent and Alpha was up 1.71 percent.

OTE telecom outperformed among non-banking blue chips, increasing 7.04 percent, and PPC grew 4.73 percent, while Terna Energy was the worst off, giving up 3.76 percent.

In total 64 stocks registered gains, 38 sustained losses and 18 remained unchanged.

Turnover amounted to 64.9 million euros, down from Thursday’s 83.9 million.