ECONOMY

Small-caps feel the heat

The Athens Stock Exchange benchmark general index ended last week at 2,210.57 points, a loss of 99.95 points or 4.33 percent from the previous week’s close. Four of the week’s five sessions ended with losses. Total turnover fell slightly, to 956.54 million euros, an average of 191.31 million euros per session. The greatest selling pressure fell on small-capitalization stocks. Thus, the FTSE/ASE Small-Cap 80 dropped 7.21 percent, the FTSE/ASE Mid-40 index fell 4.93 percent and the FTSE/ASE-20 index of blue chips declined 4.29 percent to close at 1,114.22 points. The FTSE/ASE-140, a composite of the previous three, fell 4.73 percent, to close at 2,617.26 points. All sectoral indices ended with losses. The biggest losses were sustained by holding companies (10.15 percent), basic metals (9.16 percent) and textiles (8.86 percent). Least affected were retail commerce stocks, which fell just 0.87 percent. Out of 374 stocks traded during the week, 323 ended with losses, 46 gained and five remained unchanged. Gainers were led by Allatini Ceramics (18.24 percent), Lan-Net (13.60 percent) and Bank of Attica (13.45 percent). The biggest losers were Intersat (24.14 percent), Kordellos Bros. (19.61 percent) and the preferred shares of Viosol (17.53 percent). OTE Telecom was the most heavily traded stock, with an average daily turnover of 20.34 million euros, followed by Notos.Com Holdings (15.37 million), Alpha Bank (10.94 million) and National Bank of Greece (9.91 million).