ECONOMY

ASE at new year-low but holds 1,800 pts

Across-the-board losses dragged equities 2.41 percent lower yesterday as the benchmark general index fell to a new year-low in intrasession trade under the weight of tumbling European bourses. The Athens bourse’s benchmark general index ended off 2.41 percent at 1,837.52 points – after dropping to a new year-low of 1,800.87 points. «It was encouraging that we held the 1,800-point level, but it could be just a matter of time before we break this,» said Elias Lazaris, analyst at Artion Securities. «Nine-month profit concerns, especially in banks, could drag the general index below this level,» he said. Blue chips on the FTSE/ASE-20 index dropped 2.12 percent to 932.00 points. Mid-caps fell 3.23 percent and small-caps 3.92 percent. Turnover was 119.51 million euros on 29.3 million shares traded. Losers beat winners 325 to 20 while 15 shares were unchanged on 360 traded. (Reuters)