ECONOMY

Index off 1.25 pct, follows Euro bourses

Equities slid yesterday, dragged down by jitters on European bourses over fears of an Iraq war, with power utility PPC advancing as its defensive qualities shone out. PPC bucked the trend throughout the session to end with gains of 1.21 percent to 13.38 euros, while the broader market fell 1.25 percent to 1,800.46 points. «The Greek market today followed European peers lower, with large-caps retreating,» said analyst Dimitris Triandafyllou at Euroxx Securities. Also hurting was a newspaper report that Greece planned to issue new savings bonds with a coupon rate of about 4 percent. Blue chips fell 1.43 percent to 887.27 points, with telecoms down 1.21 percent and banks off 1.67 percent. Mid-caps fell 1.89 percent and small-caps dropped 2.51 percent. Turnover was 116.39 million euros versus 124.55 million a day earlier, with 27.6 million shares traded. Losers beat winners 276 to 57, with 25 shares unchanged on 358 traded. (Reuters)