ECONOMY

ATHEX: Stocks slide almost 4% over the week

athex-stocks-slide-almost-4-over-the-week

The Greek stock market did not take the same path on Friday as the rest of the eurozone, which saw mild gains, as in the latter half of the week’s final session sellers dominated trading on a day of very low turnover. Market insiders speak of a number of investors withdrawing from some positions in order to take part in upcoming share capital increases and corporate bond issues.

The Athens Exchange (ATHEX) general index ended at 641.95 points, the day’s low, shedding 1.33% from Thursday’s 650.60 points. On a weekly basis it declined 3.95%.

The large-cap FTSE 25 index contracted 1.32% to 1,548.59 points and the banks index fell 4.10%.

Alpha Bank shrank 4.55%, Eurobank decreased 4.29%, PPC receded 4.16%, Piraeus eased 4.14%, Mytilineos dropped 4.13%, Titan Cement parted with 3.80% and Aegean Air gave up 3.50%, while Fourlis earned 3.18%.

In total 25 stocks reported gains, 64 suffered losses and 17 remained unchanged.

Turnover was the lowest since mid-May, amounting to 40.2 million euros, down from Thursday’s €48.8 million.

In Nicosia, the general index of the Cyprus Stock Exchange advanced 0.61% to 49.13 points.