ECONOMY

Banks lead heavy losses

The Athens Stock Exchange (ASE) general index closed last Friday at 3,038.62 points, a drop of 47.47 points or 1.54 percent on the previous week’s close. Turnover dropped to 655.85 million euros, an average of 163.96 million per session (this was a four-session week), from 182.75 million the previous week. The FTSE/ASE-20 index of blue chips declined 1.83 percent to close at 1,710.17 points. The FTSE/ASE Mid-40 dropped 2.18 percent, while the FTSE/ASE Small-Cap 80 gained 0.08 percent. The composite FTSE/ASE-140 index declined 1.79 percent, closing at 3,577.09 points. Sixteen of the 18 sectoral indices sustained losses. The exceptions were IT equipment and solutions (7.47 percent) and refineries (5.87 percent). Top losers were real estate (4.35 percent), textiles (3.95 percent), foods and beverages (3.44 percent) and banks (3.41 percent). Of the 345 traded stocks, 135 gained, 177 declined and 33 ended unchanged. Individual gainers were led by Viosol (27.78 percent), Images & Sound (25 percent), Alter TV (22.01 percent) and Imako Media (21.95 percent). Top losers were Radio A. Korassidis (33.33 percent), Hellenic Sugar Industry (19.72 percent) and Cor-Fil’s preferred stock (14.29 percent). Alpha Bank was the most heavily traded stock, with an average turnover of 21.66 million euros per session, followed by National Bank (19.51 million), construction and property development company Babis Vovos, thanks to a private placement of a 12.47 percent stake (15.66 million), OPAP (11.49 million) and OTE (10.82 million).