ECONOMY

Stocks drop on war fears, lack of interest

Stocks dropped below 1,800 points yesterday, weighed by lack of investor interest and fears of possible negative developments abroad, such as a war with Iraq. «There is little interest, with the negative developments abroad, such as the possibility of a war with Iraq, weighing on sentiment. There are lots of shares that are cheap but are not going up, such as OTE,» said Elias Athanassiou, analyst at Selas Investments. Index heavyweight OTE Telecom gained 0.37 percent after it took a step closer to restructuring its largest foreign investment, Romtelecom. The Athens benchmark general index ended at 1,791.70 points, ending the overall week off 1.5 percent. Blue chips lost 0.52 percent to 882.62 points. Mid-caps eased 0.83 percent and small-caps dropped 0.75 percent. Turnover was 106.95 million euros on 29.9 million shares traded. Losers beat winners 230 to 70, with 53 shares unchanged on 353 traded. (Reuters)