ECONOMY

ASE declines 6.35 percent

The Athens Stock Exchange general index fell 142.83 points, or 6.35 percent, last week to close at 2,105.56 points, yet another year low. Only one of the five sessions registered gains. Total trading volume reached 923.36 million euros, representing an average daily turnover of 184.67 million. All Financial Times indices registered losses; the FTSE/ASE-20 index of large-capitalization stocks was relatively the most resistant, declining 6.82 percent. The FTSE/ASE-40 of mid-caps lost 10.45 percent and the FTSE/ASE-80 small-caps index, 8.76 percent. All sectoral indices except one sustained losses. The exception, telecommunications, gained 5.16 percent. The biggest losses were sustained by holding (17.71 percent) and insurance companies (16.87 percent). Of the 368 stocks traded, 45 registered gains, 320 ended with losses and three remained unchanged. Among individual stocks, the top gainers were Druckfarben Hellas (29.56 percent) and Allatini Ceramics (16.67 percent). The biggest losses for the week were sustained by the preferred stock of Ideal (40.85 percent), and Interamerican (40.69 percent). The most heavily traded stocks were OTE Telecom, with an average daily turnover of 28.07 million euros, and National Bank (10.97 million). The prime minister is to decide on the final form of the council within the next few days, but he has received recommendations to include representatives of the ministries of Defense, Interior, Foreign Affairs, National Economy, Public Order and Merchant Marine.