ECONOMY

Stocks take a beating

The Athens Stock Exchange composite share price index closed last Friday at 3,878.80 points, a drop of 327.14 points or 7.78 percent on the previous week’s close. It was easily the worst week this year for the market, which failed to recover even as global markets turned upward near the end of the week. Interest in some blue chips and small-capitalization stocks failed to match the aggressive selling by institutionals. Turnover rose to 2.61 billion euros, an average of 521.16 million euros per session from 512.08 million the previous week. All major indices dropped: The FTSE/Athex 20 index of blue chips declined 7.52 percent to close at 2,070.56 points, while the FTSE/Athex Mid-40 fell 8.09 percent to close at 4,396.60 points and the FTSE/Athex Small Cap 80 dropped 3.26 percent. The composite FTSE/Athex 140 index lost 7.46 percent to close at 4,638.55 points, while the FTSE/Athex International index declined 7.73 percent to close at 5,423.25 points. All sectoral indices sustained losses. Top losers were raw materials (down 13.07 percent), oil and gas (11.76 percent), financial services (10.14 percent) and insurance (9.48 percent). Among individual titles, the top gainers were Domiki Kritis (up 82.93 percent), Veterin (63.08 percent) and Tria Alfa (30.25 percent). Top losers were ATEbank (16.43 percent), Motor Oil (16.13 percent) and Etem (15.60 percent). Marfin Group topped the list of the most heavily traded shares, with an average turnover of 92.30 million euros per session. It was trailed by National Bank (44.05 million) and OPAP (31.62 million).