ECONOMY

Greek stocks end week lower

Greek stocks ended the week down, falling 0.85 percent on across-the-board losses. The Athens bourse’s benchmark general index closed at 2,380.58 points, racking up gains of 0.77 percent for the week. The index has gained just over 33 percent since the start of the year. The blue chip FTSE/ATHEX 20 index shed 0.66 percent to 1,242.95 points. OTE telecom, whose second-quarter earnings disappointed investors on Thursday, eased 0.38 percent to 10.36 euros. Credit Suisse cut its price target on OTE to 13 euros from 16 euros previously. Pharmaceuticals firm Alapis tumbled 5.26 percent to 0.72 euros, bringing losses in the last week to 27 percent. Alapis announced on Thursday a rights issue at a heavily discounted 0.46 euros per new share. Turnover reached 159.05 million euros versus 209 million previously.