ECONOMY

Index slides 0.35 pct to new 5-year low

Equities eased marginally yesterday as index heavyweight OTE Telecom’s recent slide lost momentum after the company activated its share buyback program. OTE – which has lost more than 13 percent in a week – slipped 0.64 percent to end at 9.34 euros, another record low. «OTE stabilized due to its share buyback and this meant the whole market stabilized,» said a fund manager. The general index slipped 0.35 percent to 1,564.49 points, setting another year low. Blue chips ended off 0.41 percent at 762.70 points. Mid-caps shed 0.20 percent and small-caps dropped 0.39 percent. Closed-end fund Alpha Trust Asset Manager jumped 17.93 percent to 1.71 euros after its main shareholder, Alpha Trust Investments, offered to buy shares at a hefty premium. Turnover was 64.19 million euros, with 19.2 million shares changing hands. Losers beat winners 176 to 116, with 68 shares unchanged on 360 traded. (Reuters)