Index shrinks on fears of European crisis

Jakarta (ANTARA News) - The Jakarta composite share price index shrank on Monday on fears of worse impact of European crisis.

Analyst from PT Panin Sekuritas Tbk, Purwoko Sartono, said the condition was worsened by prediction that Spanish recession would continue to rock that country until next year.

The state of Valencia the worst hit by the recession is reeling hoping for support from Madrid , Purwoko said here on Monday.

Meanwhile, Greece is facing worse crisis as its creditors plan to review bailout agreement.

If Greece failed to meet certain requirements it may not have additional financial support, Purwoko said.

Decline was recorded in the prices of shares of all sectors led by multifarious industry down 2.9 percent , mining 2.6 percent and property 2.3 percent.

On Monday`s close the index of the Indonesian Stock Exchange dived 1.75 percent to 4,009.79 points and the index of 45 most liquid stocks dropped 1.90 percents to 682.4.

Trading went with 6,746 million lots of shares worth Rp3.47 trillion changing hand in 95,274 transactions with 29 gainers and 262 losers and 59 stagnant.

Among the losers were PT Mayora Indah Tbk (MYOR) down Rp700 to Rp21,350, PT United Tractors Tbk (UNTR)shrinking Rp650 to Rp21,100 and PT Gudang Garam Tbk (GGRM) declining Rp550 to Rp57,850.

Gainers included PT Eatertainment International Tbk (SMMT), up Rp170 to Rp950, PT Sumber Alfaria Trijaya Tbk (AMRT) rising Rp100 to Rp5.500 and PT Bank Danamon Indonesia Tbk (BDMN) up Rp50 to Rp6,000.