ATHEX: Bright end to a week of gloom

The benchmark of the Greek stock market staged an impressive rebound late in Friday’s session to come back from 1% down and close with gains of almost 1%. Banks led the way for the recovery of the index, though that was not enough to offset all its weekly losses. As the full scale of the damage the forest fires and floods have led to in various parts of Greece becomes ever clearer, the impact on the economy is increasingly worrying investors.

The Athens Exchange (ATHEX) general index closed at 1,259.50 points, adding 0.96% to Thursday’s 1,247.51 points. On a weekly basis it dropped 3.08%.

The large-cap FTSE-25 index expanded 1.03% to end at 3,053.25 points and the banks index advanced 2.19%. ElvalHalcor jumped 4.10%, National Bank grew 3.52%, Piraeus Bank earned 3.33% and Alpha Bank improved 2.38%, as Quest Holdings parted with 0.96%.

In total 59 stocks showed gains, 34 sustained losses and 26 remained unchanged.

Turnover amounted to 92.7 million euros, down from Thursday’s €107.9 million. 

In Nicosia, the general index of the Cyprus Stock Exchange decreased 0.59% to close at 132.86 points.