ECONOMY

Lack of interest drives shares to new year-low

Shares receded to a new year-low after four consecutive declines yesterday, with trading marked by the lack of buying interest and low turnover. The general index of the Athens Stock Exchange (ASE) shed 9.81 points, or 0.43 percent, closing at 2,245.53. Small-caps declined most, 1.28 percent, mid-caps receded 1.19 percent and blue chips lost 0.31 percent. Textiles suffered most, due to the strong pressure on shares of the Klonatex group. The two heavyweight sectors, banks and telecoms, ended 0.38 percent and 0.37 percent lower respectively. Among individual stocks, the Public Power Corporation advanced 1.10 percent percent, Alpha Bank gained 0.63 percent and Coca-Cola HBC 0.42 percent. Among the decliners, National Bank ended 1.18 percent lower, Folli Follie and Titan Cement declined 3.05 and 2.24 percent. OTE Telecom lost 0.42 percent to 9.40 euros, while Morgan Stanley upgraded the share with a target price of 11.50 euros. Decliners outnumbered advancers 236 to 39, with 56 remaining unchanged on 331 traded. Turnover was 77.99 million euros, of which 15.76 million represented block trades.