ECONOMY

Losses across the board

The Athens Stock Exchange general index fell 114.70 points, or 4.15 percent, last week to close at 2,647.42 points. All five sessions ended with losses. Total trading volume reached 596.98 million euros, representing an average daily turnover of 119.39 million. All Financial Times indices registered losses; the FTSE/ASE-20 index of large- capitalization stocks actually outperformed the market, declining just 4.06 percent, to 1,488.26 points. On the other hand, the FTSE/ASE-40 of mid-caps lost 6.46 percent and the FTSE/ASE-80 small-caps index, 6.83 percent. All sectoral indices sustained losses. The biggest losses were sustained by IT equipment/solutions (10.82 percent), investment (7.02 percent) and printing and publishing (6.99 percent). Of the 369 stocks traded, 24 registered gains, 337 ended with losses and and eight remained unchanged. Among individual stocks, gainers were led by publisher Lymberis (11.68 percent) and underwear maker Sex Form (10.25 percent). The biggest losses for the week were sustained by electronics retailer Germanos (22.93 percent), Druckfarben Hellas (22.52 percent) and Allatini Ceramics (22.18 percent). The most heavily traded stocks were OTE Telecom, with an average daily turnover of 17.58 million euros, and Sex Form (5.21 million). He said that three major events – the EU summit, Thessaloniki’s participation in the Athens 2004 Olympics, and Expo 2007-2008 – will heighten further Thessaloniki’s international role.