ECONOMY

ASE falls in tandem with European markets

Stocks lost ground yesterday on the Athens Stock Exchange (ASE), in line with European markets. There was heavy selling pressure on some medium-capitalization firms. The ASE general index closed at 3,593.55 points, a decline of 23.52 points or 0.65 percent. On a weekly basis, it declined 0.70 percent; it has declined 1.92 percent since the beginning of the year. The FTSE/ASE 20 index of blue chips declined 0.47 percent to close at 1,959.33 points. Mid- and small-caps declined 1.75 percent and 0.73 percent respectively. The FTSE/Athex International index declined 0.72 percent. Several blue chips bucked the trend, ending with gains: Emporiki Bank (up 1.22 percent to 24.92 euros), refiner Hellenic Petroleum (1.18 percent to 10.32 euros), electronics retailer Germanos (0.64 percent to 18.90 euros), Piraeus Bank (0.63 percent to 19.26 euros), telecoms firm OTE (0.46 percent to 17.30 euros) and jewelry-maker and retailer Folli Follie (0.45 percent to 17.86 euros). By contrast, losses were sustained by cement producer Titan (down 2.74 percent to 35.50 euros), EFG Eurobank (2.13 percent to 21.16 euros), metals group Viohalco (1.76 percent to 6.70 euros) and bottling company Coca-Cola HBC (1.75 percent to 24.72 euros). Of 302 traded stocks, 74 gained, 174 declined and 54 ended unchanged. Turnover reached 185.88 million euros.