ECONOMY

Heavy losses all around

The Athens Stock Exchange (ASE) general index closed on Friday at 1,614.06 points, a drop of 66.40 points or 3.95 percent from the previous week’s close. Turnover increased significantly, to 397.9 million euros from 269.8 million the previous week, an average of 79.58 million euros per session. Among the Financial Times indices, the FTSE/ASE Mid-40 index resisted best, dropping 2.57 percent. The FTSE/ASE Small-Cap 80 fell 4.81 percent and the FTSE/ASE-20 index of blue chips dropped 4.76 percent, to 791.73 points. The FTSE/ASE-140, a composite of the previous three indices, fell 4.41 percent to 1,805.17 points. All sectoral indices suffered losses. Basic metals resisted best, dropping 0.93 percent. The greatest losses were sustained by textiles (9.17 percent), telecommunications (6.10 percent) and construction firms (5.41 percent). Of the 367 individual stocks traded last week, 285 registered losses, 64 advanced and 18 remained unchanged. Gainers were led by Mouriades, which advanced 53.33 percent to 0.23 euros per share. The other two double-digit gainers were Intersat (18.75 percent), a similarly low-priced firm, and ANEK (PR,96), which gained 10.66 percent. The top losers were Veterin (27.17 percent) and, for the second week in a row, Xifias Fisheries (26.98 percent). Once again, OTE Telecom was the most heavily traded stock, with an average turnover of 21.96 million euros per session. State electricity producer and distributor Public Power Corporation followed far behind, with 4.87 million euros per session.