ECONOMY

Index slightly off as PPC gains cashed in

Equities eased yesterday, led by a 0.60 percent drop in power utility Public Power Corporation (PPC), as investors took profits after subscribing to a public share offering by the company last week at a discount. State-owned PPC ended at 13.24 euros, as 30.6 million of its shares started trading after the government offered up 13 percent of the company. Investors bought the shares at prices ranging from 10.86 to 12.40 euros. «There was pressure in PPC from investors that had a short-term outlook on the stock but the share supply was absorbed,» said an analyst from Artion Securities. The Athens benchmark general index trimmed earlier losses to end off 0.19 percent at 1,828.09 points. Blue chips dropped 0.33 percent to 891.53 points. Mid-caps fell 0.32 percent and small-caps lost 0.75 percent. Turnover was 192.01 million euros on 32.9 million shares traded. Losers beat winners 224 to 84, with 48 shares unchanged on 356 traded. (Reuters)