ECONOMY

Losses pile up in low trade

The Athens Stock Exchange went through five losing sessions last week. As a result, the composite price index slid 68.37 points, or 2.63 percent from a week earlier, to close at 2,527.34 on Friday. The volume of trading, already low, declined further to 529.85 million euros – a daily average of 105.97 million. The FTSE/ASE-20 index of blue chips came under especially heavy pressure, losing 2.97 percent. The middle and small-capitalization indices also moved lower, 1.87 percent and 2.26 percent, respectively. The same picture prevailed among sectoral indices, with a single exception. This was the non-metallic minerals and cement index, which gained 0.25 percent. Hardest hit were telecommunications (-3.79 percent), and retail commerce and holding companies (both lost 3.68 percent). Of the 369 stocks traded, 270 slid, 72 gained, and 27 remained unchanged. The biggest beneficiaries of the week were Ideal’s preferred shares, which rose 16.06 percent, and Emborikos Desmos (13 percent). The losers were led by the preferred shares of VIS (18.50 percent) and Klonatex (15.53 percent). OTE was the most heavily traded stock with an average daily value of 9.95 million euros. – Achieve Global Hellas organizes an international open workshop on «Leading and Navigating Change.» At the Ledra Marriott Hotel. To Friday.