ATHEX: Benchmark slumps to 7-week low
Friday’s session at the Greek bourse proved to be a bull trap, as after the halfway point the early gains swung to losses and the majority of stocks closed the week with a significant drop – in line with the fall of the Credit Suisse stock in Zurich – in what was the second straight week of prices shrinking at Athinon Avenue.
The day’s triple witching predictably sent turnover soaring.
The Athens Exchange (ATHEX) general index closed at 1,020.19 points, shedding 1.14% from Thursday’s 1,031.91 points. On a weekly basis it declined 3.41%, to a seven-week low.
The large-cap FTSE-25 index contracted 1.12% to end at 2,477.76 points.
The banks index lost 4.40%, as Piraeus slumped 5.94%, National sank 5.74%, Alpha was down 5.08% and Eurobank parted with 2.10%. Sarantis jumped 3.72% higher and Viohalco earned 2.17%.
In total 34 stocks registered gains, 64 suffered losses and 29 remained unchanged.
Turnover amounted to 177.3 million euros, up from Thursday’s €130.2 million.
In Nicosia, the general index of the Cyprus Stock Exchange decreased 0.67% to close at 104.58 points.
