ECONOMY

Telecoms and banks lift the market

Gains in telecoms and banks led equities 1.28 percent higher yesterday as the market pulled the brake on a four-session slide and index heavyweight OTE Telecom outperformed. OTE rebounded from a 2.5 percent drop a day earlier to end at 11.50 euros, up 1.95 percent. Telecoms added 1.45 percent. «There was selective buying in telecoms and banks as the market reacted to the drops of the last few sessions,» said a trader. The benchmark general index closed at 1,674.20 points, ending the week with an overall loss of just over eight points. Blue chips added 1.50 percent to 832.79 points, while banks gained 1.83 percent. Mid-caps gained 1.14 percent and small-caps added 1.46 percent. Turnover was 59.77 million euros, with 18.5 million shares changing hands. Winners beat losers 234 to 62, with 56 shares unchanged on 352 traded. (Reuters)