ATHEX: Stock drop eats into weekly gains

The main index at Athinon Avenue closed with losses on Friday for the first time this month, after nine consecutive sessions of growth, to drop below the 900-point mark, quite possibly in anticipation of Piraeus Bank’s share capital increase. However, this decline was certainly not enough to offset all of the week’s growth with the benchmark closing higher for a fourth week in succession.

The Athens Exchange (ATHEX) general index ended at 898.63 points, shedding 0.74% from Thursday’s 905.31 points. On a weekly basis it advanced 0.78%.

The large-cap FTSE 25 index contracted 0.82% to close at 2,176.13 points, and the banks index conceded 0.84%.

All but four blue chips headed south, led by Titan Cement (down 2.35%), Jumbo (2.16%) and Viohalco (2.08%), while OTE rose 1.28% and Hellenic Petroleum added 1.19%.

In total 37 stocks reported gains, 63 endured losses and 30 remained unchanged.

Turnover amounted to 99.5 million euros, down from Thursday’s €112.5 million.

In Nicosia, the general index of the Cyprus Stock Exchange decreased 0.35% to close at 62.75 points.