Greek stocks plunge to new 15-year lows

Greek stocks suffered another heavy blow in the Athens Stock Exchange on Wednesday, hit by turmoil in European markets caused by a turmoil in the Italian and Spanish markets, with investors worried that the debt crisis in the Eurozone will continue to spread and the European Commission expressing its concern over developments in European bond markets.
The composite index of the market dropped 3.76 pct to end at 1,101.31 points, a new 15-year low. Turnover remained a low 64.174 million euros. The Big Cap index plunged 4.12 pct, the Mid Cap index ended 3.01 pct lower and the Small Cap index fell 1.94 pct. Jumbo was the only blue chip stock to resist the downward pressure, ending unchanged at Tuesday’s level, while Piraeus Bank (8.54 pct), Ellaktor (8.47 pct), MIG (7.14 pct), Marfin Popular Bank (6.38 pct) and Eurobank (5.91 pct) were top losers.
All sectors moved lower with the Media (8.89 pct), Insurance (8.16 pct), Financial Services (6.92 pct) and Commerce (5.50 pct) suffering the heaviest percentage losses of the day. Broadly, decliners led advancers by 115 to 32 with another 33 issues unchanged.
Douros (9.21 pct), Hatzikraniotis (8.70 pct) and Spider (8.33 pct) were top gainers, while Alapis (12.9 pct), Vovos (11.39 pct) and Boutaris (11.11 pct) were top losers.

Sector indices ended as follows:
Insurance: -8.16%
Industrials: -2.87%
Commercial: -5.50%
Construction: -4.07%
Media: -8.89%
Oil & Gas: -1.21%
Personal & Household: -0.19%
Raw Materials: -3.82%
Travel & Leisure: -3.97%
Technology: -1.56%
Telecoms: -5.48%
Banks: -4.32%
Food & Beverages: -3.52%
Health: -2.13%
Utilities: -3.91%
Chemicals: -3.24%
Financial Services: -6.92%

The stocks with the highest turnover were National Bank, HBC Coca Cola, OPAP and EFG Eurobank Ergasias.

Selected shares from the FTSE/ASE-20 index
closed in euros as follows:
Alpha Bank: 2.83
Public Power Corp (PPC): 7.65
HBC Coca Cola: 16.40
Hellenic Petroleum: 6.15
National Bank of Greece: 4.30
EFG Eurobank Ergasias: 2.39
OPAP: 10.55
OTE: 5.00
Bank of Piraeus: 0.75
Titan: 14.27

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