ECONOMY

Mild stock gains as OTE continues run

Equities held on to mild gains yesterday to end 0.89 percent higher as OTE Telecom extended its positive run. Brokers said OTE’s share buyback, which started earlier this week, was providing some support for the stock, while others said the telecom firm was benefiting from the sector’s improved sentiment in European markets. OTE’s share buyback program will run through to October next year and will cover up to 36.9 million shares – about 7.3 percent of its share capital – at a price range of one to 30 euros. OTE rose 2.06 percent to 10.88 euros, bringing its gains in the last two sessions to more than 4 percent. The benchmark general index firmed 0.89 percent to 1,831.63 points. Blue chips rose 0.91 percent to 894.49 points; mid-caps rose 0.98 percent and small-caps gained 0.93 percent. Turnover was 382.22 million euros on 43.8 million shares traded. Winners beat losers 213 to 91, with 51 shares unchanged on 355 traded. (Reuters)