ATHEX: No stopping stock slide at Athinon Ave

The announcement of the 12% inflation rate in Greece (in EU-harmonized index terms) last month reversed the initially positive climate at Athinon Avenue on Friday and led to a fresh drop for most blue chips, while overall stocks were split between winners and losers. Coca-Cola HBC’s rise did not suffice to turn things around for the benchmark, which is now mighty close to the 800-point level.

The Athens Exchange (ATHEX) general index closed at 805.79 points, shedding 0.57% from Thursday’s 810.42 points. On a weekly basis it declined 3.48%.

The large-cap FTSE-25 index contracted 0.67%, ending at 1,929.54 points, while mid-caps advanced 0.68%.

The banks index lost another 0.46%: Eurobank shrank 2.04% and Piraeus was down 1.52%, as National earned 1.31% and Alpha climbed 0.26%. CCHBC jumped 3.45%, but OTE dropped 5.01% and PPC conceded 2.67%.

In total 48 stocks posted gains, 47 sustained losses and 14 remained unchanged.

Turnover amounted to 55.7 million euros, down from Thursday’s €75.7 million.

In Nicosia, the general index of the Cyprus Stock Exchange decreased 0.87% to 67.41 points.