ECONOMY

ATHEX: Index grows 11.5% over past week

athex-index-grows-11-5-over-past-week

Rising stocks outnumbered the losers at a rate of almost two-to-one on Friday, but the decline of banks forced the benchmark to a minor retreat, which was definitely not enough to offset the significant gains registered this week.

The Athens Exchange (ATHEX) general index ended at 655.68 points, shedding 0.20% from Thursday’s 657.01 points. On a weekly basis it jumped 11.49%.

The large-cap FTSE 25 index contracted 0.54% to close at 1,552.77 points, while mid-caps expanded 1.30%.

At the end of a week when it rose by about a quarter, the banks index declined 1.68% on Friday, as Piraeus conceded 3.37%, National parted with 2.80% and Alpha decreased 2.57%, while Eurobank edged up 0.15%.

Reports of a deal to sell subsidiary Hellenic Cables boosted Viohalco 10.53%. Titan Cement grew 3.42%, and Jumbo and Motor Oil both lost 4.15%

In total 65 stocks reported gains, 35 recorded losses and 18 remained unchanged.

Turnover amounted to 45 million euros, down from Thursday’s €66 million.

In Nicosia, the general index of the Cyprus Stock Exchange increased 0.69% to 45.19 points.