ECONOMY

Surging OTE helps bourse post small gain

Steady gains in OTE Telecom kept the Athens bourse in positive territory yesterday, as investors applauded a better-than-expected nine-month performance by the telecoms operator. Trade was heavier than usual in OTE, which gained 3.02 percent to 10.92 euros, while the Athens benchmark general index rose 0.59 percent to 1,880.31 points. «Today was a good session, with OTE strong but banks continuing to weigh. What was positive was that there was increased volume and turnover above 100 million euros,» said analyst Elias Lazaris at Artion Securities. Turnover settled at 136.41 million euros with 35 million shares traded. «We’re seeing consolidation on the bourse with bias on the upside. A correction is on the cards but that would be a healthy sign, Lazaris said. Blue chips gained 0.46 percent to 919.53 points and small-caps rose 1.18 percent, but mid-caps fell 0.23 percent. Winners beat losers 193 to 117 with 57 shares unchanged on 367 traded.(Reuters)