ECONOMY

Domestic institutionals lead ASE sales binge

Equities remained firmly mired in the red yesterday, with selling by investors, rattled by the terrorist attack on the USA, driving the bourse more than 7.0 percent lower. The Athens benchmark general index ended 7.74 percent down at 2,358.05 points. The situation is worrying on a global level. Fears about a recession in the US are increasing and we don’t know yet what influence this will have on US consumer confidence, which has an impact on European economies, said Head Analyst Joanna Tellioudi at HSBC-Pantelakis Securities. The Greek bourse on Tuesday escaped the hit other European markets took, as it closed before news of the attack broke. The bourse’s FTSE/ASE-20 index of blue chips lost 7.71 percent to 1,325.13 points. The FTSE/ASE-40 index of mid-caps lost 8.95 percent while small-caps gave up 9.77 percent. Turnover surged to 259.29 million euros from 143.71 million euros on Tuesday, on 44.4 million shares traded. Losers beat winners 357 to two with one stock unchanged on 360 traded. Small-caps Sex Form, a lingerie maker, and Quality & Reliability were the only gainers.(Reuters) By 10 a.m. yesterday the American Pavilion had been swamped with security personnel, limiting access to the building to one gate and one exit, while others were deployed on the perimeter of the building. TIF officials yesterday did not respond to repeated inquiries concerning the heightening of security measures, with some of them even stating ignorance of the issue.