ECONOMY

ATHEX: Signs suggest no year-end rally in store for local stocks

athex-signs-suggest-no-year-end-rally-in-store-for-local-stocks

The outlook following Friday’s session at Athinon Avenue, which traders were watching carefully to get an idea of how the market would fare in the weeks ahead, was not rosy, as the benchmark headed south. The chances of a year-end rally have therefore been ruled out, and 2018 is expected to end in negative territory.

The Athens Exchange (ATHEX) general index ended at 645.24 points, shedding 0.50 percent from Thursday’s 648.49 points. On a weekly basis it fell 0.53 percent.

The large-cap FTSE-25 index shrank 0.36 percent to 1,699.55 points, while the small-cap index expanded 0.42 percent.

The banks index gave up 0.88 percent, as Piraeus lost 4.67 percent, National conceded 1.28 percent, Alpha decreased 0.48 percent and Eurobank eased 0.29 percent.

In total 24 stocks rose, 48 posted losses and 32 stayed put.

Turnover amounted to 28.8 million euros, down from Thursday’s 52.9 million.

In Nicosia the Cyprus Stock Exchange general index rebounded 1.33 percent to close at 65.34 points.