ECONOMY

Market spooked by rise in euro and oil

Stocks declined yesterday on the Athens Stock Exchange (ASE), as European markets came under pressure from the rise of the euro and oil as well as fears over the likely adverse effect on company earnings. The ASE compound share index closed at 4,271.83 points, a drop of 36.34 points or 0.84 percent. The FTSE/ASE 20 index of blue chips declined 0.90 percent to close at 2,357.29 points. Mid-caps declined 0.14 percent and small-caps ended unchanged. The FTSE/Athex International declined 0.76 percent, closing at 6,163.28 points. All 17 sectoral indices lost ground. The biggest losers were media (down 1.81 percent), utilities (1.62 percent), industrial goods and services (1.20 percent) and travel and leisure (1.20 percent). All blue chips declined. The biggest losses were sustained by Bank of Cyprus (down 2 percent to 9.80 euros), electricity utility Public Power Corporation (1.89 percent to 19.70 euros), betting company OPAP (1.67 percent to 28.20 euros), ATEbank (1.50 percent to 3.94 euros) and EFG Eurobank (1.41 percent to 28 euros). Turnover reached 293.80 million euros, including 47.24 million in prearranged trades. The market’s total capitalization dropped to 154.61 billion euros.