ECONOMY

Slight gains for Athens bourse

The general price index of the Athens Stock Exchange (ASE) recorded modest gains of 0.47 percent (10.51 points) last week. After three sessions of net gains and two of losses, the index closed at 2,260.10 points on Friday. The total volume of trading for the week reached 436.42 million euros, an average daily volume of 87.28 million euros. The indices of small- and medium-capitalization stocks recorded gains. The FTSE/ASE-mid 40 rose 2.49 percent and FTSE/ASE-80 of small-caps 1.41 percent, while the FTSE/ASE-20 index of blue chips receded 0.12 percent. Sectoral indices put out a mixed picture. The largest gains were recorded in the sectors of retail commerce, 5.48 percent, and information technology, 4.31 percent. Holdings led the laggards with losses of 2.73 percent. Of the 367 stocks traded, 205 recorded gains, 142 lost value and 20 remained unchanged. The stocks with the largest gains were Elbisco Holdings (CB), 20.61 percent, and Unisystems (CR), 17.69 percent. The September 11 attacks have shocked America and the world and have provided a coalition of states to campaign against terrorism, and a war in Afghanistan. The economy in the USA and globally has been disrupted and damaged, though I believe confidence will recover. The main implications of the September 11 attacks for the world are (a) we face the strategic threat of mass terrorism and (b) we have come a step nearer to terrorists’ using chemical, biological or nuclear weapons to kill even larger numbers of people. The September 11 attacks were a tragic watershed.