ATHEX: Weekly drop for index after six weeks rising


The benchmark of the Greek stock market failed to extend a six-week streak of weekly gains on Friday, as the main index was hit with notable losses in a week dominated by the 10-year sovereign bond issue and Aegean Air’s seven-year corporate note. Banks suffered most of the pressure, with investors appearing keen to bank recent profits.

The Athens Exchange (ATHEX) general index ended at 696.56 points, shedding 1.12 percent from Thursday’s 704.43 points. On a weekly basis it declined 2.25 percent.

The large-cap FTSE-25 index contracted 0.88 percent to 1,818.66 points and the banks index finished the day 4.01 percent lower. Alpha slumped 5.06 percent, National gave up 3.85 percent, Piraeus was down 3.36 percent and Eurobank fell 2.74 percent.

The legal clause tabled for the completion of the tender for PPC’s four coal-fired plants regardless of the offers level gave the utility’s stock a 3.92 percent boost on Friday.

In total 36 stocks posted gains, 65 took losses and 20 remained unchanged.

Turnover amounted to 40.1 million euros, down from Thursday’s 54.4 million.

The bourse will reopen on Tuesday, after the long weekend.

In Nicosia the Cyprus Stock Exchange general index decreased 0.06 percent to 62.59 points.