ECONOMY

Alpha Bank’s rise reins in an index correction

Greek stocks posted a small correction yesterday, with investors cashing in on the week’s gains. The Athens Exchange (ATHEX) general index closed the day 0.34 percent lower at 4,919.52 points from 4,936.14 points on Thursday. It closed the week 0.67 percent higher than the previous Friday. The FTSE/ATHEX 20 blue chip index lost 0.32 percent, closing at 2,637.55 points. The FTSE/ATHEX Mid-40 declined by 0.20 percent to 6,240.24 points, and the FTSE/ATHEX 80 small-cap index shrank by 0.29 percent, ending at 1,056.12 points. The FTSE/ATHEX International index dropped by 0.24 percent to close at 7,027.28 points. Alpha Bank’s rise was the highlight among blue chips, as it was the main factor that helped the general index to contain its losses. The bank’s stock gained 2.17 percent yesterday, outperforming its rivals both in growth and in transaction value. The Postal Savings Bank was a distant second in increases(up 0.97 percent), while the biggest losses were for Viohalco (down 2.20 percent), EFG Eurobank (1.29 percent), Folli-Follie (1.29 percent, also) and Piraeus Bank (1.08 percent). Sectoral indices again had a mixed picture, with industrial products having an impressive 2.03 percent decline. The greatest rise was for the index of financial services (higher 1.22 percent). Turnover totaled -383.6 million, including -49.5 million in prearranged transactions.