Amid the sharp widening of Greek government bond spreads, Friday’s session just confirmed the weakness of the domestic market, which pays dearly the toughening of European Central Bank’s stance towards a possible extension of Greek debt, threatening that in such a case it won’t accept Greek bonds as collateral.
The downgrade of Greece’s credit rating by Fitch is estimated weight on the trading activity, although it was long expected, both because of its extent and the harsh wording towards a possible extension of Greek debt.
"Sentiment remains negative and there is a dearth of buying interest," a local analyst told Dow Jones Newswires, adding that investors were also closing out positions ahead of the weekend.
Across the board, the General Index moved downwards by 1.88%, at 1,297.36 points, close to the session’s low, after a fluctuation into a margin of 30 units of 2.25%. The General Index recorded losses of 4.34% for week. Approximately 23.13 million units worth €78.36m were traded on Friday, while a total amount of 79 shares declined, 47 rose and 155 remained unchanged.
Banking index ended at 957.13 units, down 1.84%, also close to the session’s low, with all of its shares in negative territory (besides ATEbank and Marfin Popular Bank, which remained unchanged). Banks posted losses of 3.84% for week.
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