ATHEX: Italy’s fiscal Medicane strikes Greek bourse too

Local stocks were laid low yesterday by the Italian flu that is ailing not only most eurozone markets but also the euro itself, to say nothing of Greek bonds. Stocks in Athens ended the week in the red on the uncertainty that the unpredictable government in Rome is generating among investors in the weakest link of the eurozone, Greece.

The Athens Exchange (ATHEX) general index ended at 691.69 points, shedding 2.29 percent from Thursday’s 707.92 points. On a weekly basis it shrank 1.01 percent, and over the month of September it fell 5.20 percent.

The large-cap FTSE-25 index contracted 1.81 percent to 1,822.33 points, while the banks index gave up 1.99 percent, with losses for Piraeus (7.39 percent), Alpha (2.29 percent) and National (2.23 percent).

In total 30 stocks secured gains, 62 sustained losses and 23 stayed put.

Turnover came to 73.3 million euros, up from Thursday’s 42.4 million.

In Nicosia the Cyprus Stock Exchange general index grew 0.07 percent to close at 72.61 points.