ECONOMY

Banks drag ASE down

The Athens Stock Exchange composite share price index closed last Friday at 4,205.94 points, a drop of 79.99 points or 1.87 percent on the previous week’s close. Turnover rose to 2.56 billion euros, an average of 512.08 million per session, from 400.83 million the previous week. The fall was due exclusively to selling pressure on blue chips; the FTSE/Athex 20 index of blue chips declined 3.19 percent to close at 2,238.98 points, but the FTSE/Athex Mid-40 gained 1.24 percent to close at 4,783.66 points while the FTSE/Athex Small-Cap 80 gained 1.85 percent. The composite FTSE/Athex 140 index declined 2.23 percent to close at 5,012.25 points, while the FTSE/Athex International index fell 2.01 percent to 5,877.76 points. Eleven of the 17 sectoral indices posted gains. Top gainers were raw materials (up 5.48 percent), industrial goods and services (4.91 percent) and chemicals (4.72 percent). The top losers were banks (down 4.65 percent), telecommunications (2.03 percent) and utilities (1.82 percent). Among individual titles, the top gainers were Nick Gallis (up 102.94 percent), said to be used as a vehicle for a non-listed firm, Neorion shipyard (78.75 percent) and Perseus (73.24 percent). Top losers were Anek’s preferred (90) stock (down 13.69 percent), Hippotour (12.35 percent) and Iaso (10.77 percent). ATEbank topped the list of most heavily traded shares, with an average turnover of 79.17 million euros per session. It was trailed by EFG Eurobank (44.38 million), Germanos (44.15 million) and National Bank (37.24 million).