ECONOMY

ATHEX: Drop turns week into a losing one

athex-drop-turns-week-into-a-losing-one

Greek stocks suffered extensive losses at the end of the week, underperforming their peers across most of the continent. While the prospect of the share capital increases in banks takes its toll on the local market in general, the trend for sales was universal, affecting even the majority of small-caps.

The Athens Exchange (ATHEX) general index ended at 778.98 points, shedding 2.23% from Thursday’s 796.77 points.

On a weekly basis the benchmark decreased 1.41%.

The large-cap FTSE 25 index contracted 0.58% to close at 1,855.60 points and the banks index slumped 3.73%.

GEK Terna was the only blue chip to head north, adding 0.28%. Alpha Bank dropped 5.25%, Aegean Airlines lost 5.24%, National Bank eased 4.65%, OPAP parted with 4.02% and Motor Oil gave up 3.44%.

In total 28 stocks secured gains, 85 suffered losses and 13 remained unchanged.

Turnover amounted to 69.9 million euros, up from Thursday’s €54 million.

In Nicosia, the general index of the Cyprus Stock Exchange declined 0.21% to close at 57.43 points.