Folli Follie
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ATHEX: Benchmark sinks to its lowest point this year
Confidence in the Greek economy's recovery appears to be wearing thin again these days, as a meeting on Thursday of the Washington Group failed to reach an agreement on the Greek debt measures, bond yields remained high, Folli Follie's slump accelerated afresh and bank stocks took another tumble, leading the Athens Exchange (ATHEX) benchmark to a five-and-a-half-month low.
ATHEX: All Tuesday's stock gains wiped out
The benchmark of the Athens Exchange (ATHEX) lost all of Tuesday's gains on Wednesday as concerns over the new Italian government, US-North Korean relations and the eurozone in general also weighed on the weakest link in the bloc and its stock market. The drop was accompanied by a major decline in turnover.
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ATHEX: Banks index bounces back after over a week of losses
The ascent of the banks index after six sessions of losses along with the recovery of bond prices gave local stocks a notable boost on Tuesday, combined with an improvement in trading volume.
The Athens Exchange (ATHEX) general index ended at 797.65 points, adding 1.68 percent to Monday's 784.46 points. The large-cap FTSE-25 index expanded 1.53 percent to 2,094.70 points.
ATHEX: Stock index loses 4.81 pct over the week
The trading week in Athens ended with a volatile session that saw the benchmark drop for a fifth time in as many days. The majority of stocks ended up with gains, albeit small in most cases. Despite the prospect of a swift staff-level agreement with the creditors and the May triple-witching, the market remained subdued for most of the day.
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Stakeholder Fosun seeks clarifications from Folli Follie
China's Fosun International Ltd is seeking explanations from Folli Follie, where it is the second biggest stakeholder, about its actual financial state.
ATHEX: Stocks keep sliding amid bearish mood
Stocks headed lower for a third consecutive session on Wednesday while pressure continued on Greek bonds. The continued decline of bank stocks in particular, combined with the relatively increased turnover, suggests that investors are in a bearish mood, which is likely to set the tone for the next few sessions too.
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ATHEX: Index drops below 800 pts again
Banks and Folli Follie inflicted fresh losses on the main index at the Athens Exchange (ATHEX) on Tuesday as the pressure continued on Greek bond prices and on international markets, taking the benchmark below the 800-point mark.
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ATHEX: Local stock index heads south on very low turnover
It seems Public Power Corporation is the new sales target after Folli Follie, as its stock slumped 9.47 percent on Monday. The Greek market benchmark ended in the red on a day of particularly low trading volume.
ATHEX: Daily stock gains alleviate weekly losses
The Greek stock market's trading week - dominated by the Folli Follie saga and talk of the upcoming independent probe into the listed company - ended on Friday with a session of moderate gains that reduced the impact of losses recorded in previous sessions. However, Greek stocks' apparent vulnerability to speculation does not bode well for the future.
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ATHEX: Move by Fosun gives stock market a boost
The boost provided by Chinese stakeholder Fosun to the stock of Folli Follie, buying 750,000 shares, gave the Athens Exchange an early push on Wednesday, but most of the gains evaporated during the course of the session, leaving the benchmark at the day's low upon closing.
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