ECONOMY

CCHBC woes continue to spook market

Soft blue chips led stocks lower yesterday as bottler Coca-Cola HBC continued to bleed after one of its shareholders sold a day earlier 1.6 percent of the company at a discount to its market price. Coca-Cola HBC (CCHBC), the world’s second-largest bottler of Coca-Cola products, added to Tuesday’s slide of more than 8 percent by falling 1.57 percent to 13.76 euros. «The downward pressure in Coca-Cola HBC will likely come to to an end. The stock will need some time to recover,» said Antonis Kouleimanis, analyst at Devletoglou Securities. The Athens benchmark general index fell 0.45 percent to 1,859.24 points. Blue chips slipped 0.38 percent to 910.06 points. Mid-caps lost 0.93 percent and small-caps fell 1.99 percent. Turnover was 100.42 million euros on 25.8 million shares traded. Losers beat winners 277 to 50 with 31 shares unchanged on 358 traded. (Reuters)