ATHEX: Banks drag bourse down

ATHEX: Banks drag bourse down

The banks index of the Greek bourse declined 2.37 percent on Friday, reducing its weekly gains to 4.5 percent and leading the benchmark lower at the end of a week when most stocks registered gains.

The Athens Exchange (ATHEX) general index closed at 582.59 points, shedding 0.75 percent from Thursday’s 587.02 points. On a weekly basis it advanced 1.50 percent.

The large-cap FTSE 25 index contracted 1.12 percent to 1,536.40 points, while small-caps rose 0.81 percent.

Piraeus Bank gave up 4 percent, while Hellenic Petroleum climbed 2.17 on favorable third-quarter results.

In total 38 stocks went up, 51 headed lower and 19 stayed put.

Turnover amounted to 35.3 million euros, down from Thursday’s 61.2 million.

In Nicosia the general index of the Cyprus Stock Exchange expanded 1.02 percent to close at 66.6 points.

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