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06/03/2007  
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BUSINESS & FINANCE
Late rebound erases most of initial losses

After fluctuating widely, Greek stock prices yesterday closed at the day’s highs – apparently influenced by trends in other European bourses toward a rebound – but still in negative territory.

The Athens Stock Exchange (ASE) general index shed 0.72 percent, closing at 4,344.79 points.

The blue chip FTSE/ASE 20 index ended down 0.71 percent, the FTSE/ASE Mid-40 dropped 2.28 percent and the FTSE/ASE Small-Cap 80 declined 2.63 percent.

Public Power Corporation and Coca-Cola HBC led blue chip winners, advancing 3.09 percent and 3.02 percent respectively. Cement firm Titan was up 2.69 percent and OTE telecom added 1.70 percent. Emporiki Bank, Eurobank and construction firm Hellenic Technodomiki rebounded into positive territory before the closing. By contrast, lottery systems Intralot slumped 3.43 percent, Bank of Cyprus shed 3.14 percent and Postal Savings Bank was down 3.04 percent. Folli-Follie lost 2.28 percent.

Most sectoral indices headed south, led by insurance and chemicals, which declined more than 4 percent. Banks were down 1.43 percent.

Turnover totaled –504.8 million, of which –144.3 million was accounted for by banks National, Alpha and Eurobank.

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Business & Finance
Late rebound erases most of initial losses

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