ECONOMY

Shares resume their downward course

Shares resumed their downward course yesterday, confirming analysts’ estimates that Wednesday’s rebound was a mere technical reaction. The Athens Stock Exchange bucked the European trend, continuing its own downward course which began 19 sessions ago, on August 22. The benchmark general index dropped 1.98 percent to 2,021.51 points. All blue chips ended with losses, but some came under especially heavy pressure: Viohalco (5.66 percent), Hellenic Petroleum (4.48 percent), OTE (3.67 percent), Intracom (3.18 percent) and Coca-Cola HBC (2.45 percent). The FTSE/ASE-20 index dropped 2.08 percent to 1,021.79 points. Mid-caps dropped 1.61 percent and small-caps, 2.65 percent. Turnover was 138 million euros, of which 14.90 million concerned prearranged sales of share blocks. Of the 358 stocks traded, 44 ended with gains, 288 declined and 26 remained unchanged. (Reuters)