ATHEX: Index ends week back at square one

September began at Athinon Avenue with concerns expressed by traders after the first hour related to the global economy and the fear of stagflation. That led the benchmark to losses of almost 1% and a drop below the 1,300-point mark on Friday.

The Athens Exchange (ATHEX) general index closed at 1,299.47 points, shedding 0.99% from Thursday’s 1,312.49 points. On a weekly basis it showed a negligible decline that was less than 0.01%.

The large-cap FTSE-25 index contracted 0.93% to end at 3,152.47 points and the banks index declined 2.19%.

Autohellas fell 4.52%, Alpha Bank sank 3.21% Viohalco was down 2.85% Ellaktor gave up 2.78% and National Bank parted with 2.77%, while OPAP grew 2.05%, Cenergy Holdings improved 1.56%, OTE telecom grabbed 1.52% and Quest Holdings added 1.11%.

In total 26 stocks enjoyed gains, 74 suffered losses and 18 remained unchanged.

Turnover amounted to 79 million euros, down from Thursday’s spectacular €454 million that was due to the MSCI index rebalancing.

In Nicosia, the general index of the Cyprus Stock Exchange decreased 0.20% to close at 135.02 points.