Bad US GDP data hit ASE, especially banks

Stocks declined significantly yesterday on the Athens Stock Exchange, following European markets spooked by the latest US GDP data. The ASE composite share index closed at 4,792.62 points, a drop of 62.09 points or 1.28 percent. On a weekly basis, it declined 1.07 percent, limiting the gains this year to 9.07 percent. The FTSE/ATHEX 20 index of blue chips declined 1.57 percent to close at 2,561.88 points, while mid-caps and small-caps declined 0.66 percent and 0.13 percent, respectively. The FTSE/ATHEX International declined 1.44 percent, closing at 6,817.35 points. Sixteen of 17 sectoral indices declined. The exception was health, which gained 1.69 percent. The top losers were banks (down 1.86 percent), travel and leisure (1.63 percent), insurance (1.56 percent) and construction and materials (1.55 percent). Only two blue chips gained: ATEbank (higher 1.03 percent to -3.94) and Postal Savings Bank (0.34 percent to -17.76). The top losers were Alpha Bank (less 4.80 percent to -23.00), games of chance hardware and software designer Intralot (3.25 percent to -23.20), cement maker Titan (2.74 percent to -41.82) and jewelry and accessories maker and retailer Folli-Follie (2.22 percent to -29.94). Turnover reached -410.48 million, including -100.88 million in prearranged trades.

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