Slight losses as investors take a break

Mild telecom gains trimmed losses on the Athens bourse yesterday as the benchmark general index slipped 0.14 percent, in line with sliding European bourses, in thin holiday trade. Turnover dropped to 45.68 million euros, versus 106 million euros a week earlier. «Apart from the holiday effect, a lid has been been put on buying interest by the market’s failure to move higher in December. The general index is only about 45 points above year-lows and this is making investors cautious,» said Stratis Polychroneas, analyst at Fortius Securities. The Athens bourse general index – which has dipped to a year-low of 1,704.71 points – ended at 1,762.69 points. Mid-caps slipped 0.36 percent, while small-caps fell 0.66 percent. Small and mid-cap shares have come under pressure recently after news the Athens bourse will categorize stocks next year depending on liquidity levels. Losers beat winners 193 to 102, with 54 shares unchanged on 349 traded. (Reuters)

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