Index down as banks slide; turnover tumbles

Stocks declined yesterday on the Athens Stock Exchange (ASE), in a session marked by selling in blue chips, especially banks, and a sharp drop in turnover. The ASE general index closed at 3,251.28 points, a loss of 15.62 points or 0.48 percent. The FTSE/ASE-20 index of blue chips dropped 0.57 percent to close at 1,802.20 points, while mid-caps gained 0.19 percent and small-caps shed 0.13 percent. Some blue chips ended with gains. These included construction group Hellenic Technodomiki (up 2.76 percent to 4.46 euros), telecommunications equipment manufacturer Intracom (1.74 percent to 5.86 euros), CosmOTE (0.63 percent to 15.96 euros) and OTE (0.36 percent to 16.62 euros). By contrast, losses were sustained by Alpha Bank (down 1.65 percent to 22.72 euros), Piraeus Bank (1.58 percent to 16.16 euros), cement company Titan (1.26 percent to 28.20 euros) and Coca-Cola HBC (0.92 percent to 23.66 euros). Of 336 traded stocks, 115 gained, 148 declined and 73 ended unchanged. Turnover reached 139.57 million euros, including 5.22 million in prearranged trades. Alpha Bank had the biggest turnover (15.47 million euros), narrowly edging out OTE (15.32 million) and National Bank (14.82 million).