ASE again on the slide

The Athens Stock Exchange general index ended last week at 1,761.29 points, 58.37 points, or 3.21 percent, lower than the previous week’s close. Four of the week’s five sessions – the exception being Thursday’s – ended with losses. Total turnover for the week fell almost 24 percent, to 310.04 million euros, a daily average of just over 62 million per session. The greatest selling pressure was on blue chips; thus, the FTSE/ASE-20 index fell 4.42 percent. The mid-cap FTSE/ASE-40 and the FTSE/ASE-80 of small-caps dropped 1.47 percent and 0.76 percent, respectively. The majority of sectoral indices recorded losses. Holding companies were the top losers (10.35 percent), followed by telecommunications (4.95 percent), publishing and printing (4.31 percent) and banks (4.26 percent). The six indices that recorded gains were retail commerce (5.35 percent), TV & entertainment (2.30 percent), textiles (2.25 percent), construction (1.53 percent), non-metallic minerals (0.53 percent) and foods & beverages (0.32 percent). Of the 369 stocks traded last week, 249 fell, 99 gained and 21 were unchanged. Epilektos and Perseus were the top gainers of the week, rising 24.83 percent and 21.40 percent, respectively. The largest losses were sustained by Emborikos Desmos’s preferred stock (28.07 percent) and Commercial Bank (14.85 percent). Informatics was the most heavily traded stock, with an average turnover of 6.66 million euros per session, narrowly edging OTE Telecom followed, which averaged 6.55 million euros per session.