Stocks end 2.4% lower

Stocks came under strong selling pressure at the Athens Stock Exchange on Monday, hit by a negative climate in other European markets over worries of a continuing European debt crisis amid speculation of a larger haircut of Greek state debt.

    The composite index of the market dropped 2.40 pct to end at 779.29 points, falling to new lows for the year in intra-day trading (773.52 points). Turnover remained a disappointing low 31.397 million euros.

    The Big Cap index fell 3.78 pct, the Mid Cap index eased 0.25 pct and the Small Cap index ended 1.36 pct lower. Ellaktor (4.11 pct), Folli Follie (0.31 pct) and Jumbo (0.26 pct) were top gainers among blue chip stocks, while MIG (12.5 pct), Eurobank (8.6 pct), Marfin Popular Bank (8.33 pct), Alpha Bank (8.27 pct) and National Bank (7.27 pct) were top losers.

    The Technology (1.71 pct), Personal Products (0.61 pct) and Commerce (0.30 pct) were top gainers, while Banks (6.95 pct), Financial Services (6.09 pct) and Travel (4.79 pct) sectors suffered the heaviest percentage losses of the day.

    Broadly, decliners led advancers by 84 to 39 with another 53 issues unchanged. Maillis (10 pct), Sfakianakis (9.18 pct) and FHL Mermeren (8.6 pct) were top gainers, while Autohellas (17.6 pct), Lavipharm (16 pct) and Loulis Mills (13.7 pct) were top losers.

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