ECONOMY

ATHEX: Half-hearted rebound fails to convince

athex-half-hearted-rebound-fails-to-convince

Most of the Greek bourse’s morning gains had evaporated by the end of Friday’s session, with the benchmark covering only a quarter of the 10.61 percent loss it had suffered on Thursday. The comparatively low turnover indicates that many sellers were taking a break and will likely return next week.

The Athens Exchange (ATHEX) general index ended at 551.97 points, adding 2.49 percent to Thursday’s 44-month low of 538.55 points. On a weekly basis it shrank 19.39 percent in this fourth consecutive week of losses.

The large-cap FTSE 25 index expanded 3.21 percent to 1,387.56 points, while small-caps contracted 0.15 percent.

Τhe banks index improved 6.35 percent, as Alpha earned 8 percent, Eurobank rose 7.04 percent, Piraeus increased 6.52 percent and National collected 2.27 percent.

In total 58 stocks enjoyed gains, 38 sustained losses and 22 remained unchanged.

Turnover was the lowest of the last 15 sessions, amounting to 78.5 million euros, down from Thursday’s 92.8 million.

The general index of the Cyprus Stock Exchange inched 0.06 percent higher to close at 52.69 points.