ECONOMY

Second week of ASE losses

The Athens Stock Exchange benchmark general index ended last week at 2,146.39 points, a loss of 64.18 points or 2.90 percent from the previous week’s close. The first four of the week’s five sessions ended with losses. Total turnover fell to 837.83 million euros, an average of 167.57 million euros per session, from 956.54 million the previous week. For the second week running, the greatest selling pressure fell on small-capitalization stocks. Thus, the FTSE/ASE Small-Cap 80 index dropped 5.79 percent, the FTSE/ASE Mid-40 dropped 5.39 percent and the FTSE/ASE-20 index of blue chips declined 3.10 percent to close at 1,079.69 points. The FTSE/ASE-140, a composite of the previous three, fell 3.79 percent, to close at 2,518.17 points. All sectoral indices but one ended with losses. The exception, refineries, gained 2.30 percent. The biggest losses were sustained by insurance (12.40 percent), publishing and printing (9.65 percent) and basic metals (8.30 percent). Out of 374 stocks traded during the week, 307 ended with losses, 57 gained and 10 remained unchanged. Gainers were led by Elve (87.42 percent), Newsphone Hellas (22.72 percent) and Domus Investments (21.08 percent). The biggest losers were Alco Hellas (21.08 percent), Hellenic Exchanges (19.44 percent) and Quality and Reliability (19.22 percent). OTE Telecom was the most heavily traded stock, with an average daily turnover of 17.05 million euros, followed by Alpha Bank (11.63 million), National Bank (8.66 million) and Vodafone-Panafon (6.91 million).