Stocks rally but still end lower on week

Kathimerini English - - Focus -

Bank stock­sre­cov­ered yes­ter­day after three con­sec­u­tive days of de­cline – when their sec­toral in­dex gave up al­most 7.5 per­cent – to give the rest of the bourse a push at the end of a los­ing week. With con­flict­ing re­ports com­ing in re­gard­ing the In­ter­na­tional Mon­e­tary Fund’s par­tic­i­pa­tion in the Greek pro­gram, daily turnover climbed above the 50-mil­lion-euro mark as traders po­si­tioned them­selves buy­ing the var­i­ous ru­mors.

The Athens Ex­change (ATHEX) gen­eral in­dex closed at 644.77 points, adding 1.36 per­cent to Wed­nes­day’s 636.13 points. On a weekly ba­sis it de­clined 0.59 per­cent.

The large-cap FTSE 25 in­dex ex­panded 0.56 per­cent to 1,717.86 points and mid-caps out­per­formed, ad­vanc­ing 3.52 per­cent.

The banks in­dex posted gains of 2.18 per­cent, driven higher by Na­tional (up 4.64 per­cent) and Pi­raeus (3.13 per­cent). METKA jumped 4.70 per­cent, Jumbo grew 4.35 per­cent and PPC rose 3.03 per­cent, as Co­caCola HBC fell 1.53 per­cent.

In to­tal 59 stocks en­joyed gains, 32 recorded losses and 35 re­mained un­changed.

Turnover amounted to 50.8 mil­lion euros, up from Thurs­day’s 33.1 mil­lion.

In Ni­cosia the gen­eral in­dex of the Cyprus Stock Ex­change shrank 1.22 per­cent to 66.32 points.

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