ECONOMY

Gains 2.31pct in Nov.

The Athens Stock Exchange (ASE) general index ended last week at 2,170.05 points, a gain of 52.66 points, or 2.49 percent, on the previous week. The week was marked by a continuous flow of nine-month results that maintained interest in blue chips and small-caps, boosting turnover. Gains for the month of November amounted to 2.31 percent. A run of five positive sessions was cut short by what seemed an expected correction on Friday; analysts said the market still depends on weighty news-flow to be able to break the 2.200-point barrier this week. Such news is only seen as likely from the banking or telecoms sectors. Weekly turnover, including block trades, rose to 1.09 billion euros – an average of 217.12 million euros per session. All three FTSE indices ended higher, with the blue-chip index advancing 2.97 percent, the mid-cap FTSE/ASE-40 gaining 2.39 percent and the small-cap FTSE/ASE-80 1.14 percent. All but three sectoral indices ended higher, led by construction, which gained 4.07 percent. Banks and investment followed with 3.65 and 3.55 percent respectively. Losers were led by non-metallic minerals which declined 2.62 percent and refineries which shed 1.89 percent. Of the 370 shares traded, 207 gained, 142 declined and 21 remained unchanged. Aspis Pronoia insurance led gainers with 13.64 percent, while Mathios Pyrimacha was the biggest loser, declining 24.37 percent. The week’s most marketable securities were Marfin Classic, which gained 3.03 percent, and OTE Telecom, which climbed 6.38 percent after announcing a lower-than-expected slowdown in nine-month results.