ECONOMY

Stocks slip as caution over war prevails

Equities slipped 0.29 percent yesterday with investors eyeing developments in the war against Iraq and the reaction of European bourses. «Investors are cautious but it’s positive that, after the recent rally, we had no large correction,» said Dimitris Scapinakis, analyst at Marfin Bank. «This points to the fact that we’ve reached low levels, with the downside limited.» The Athens bourse’s benchmark general index ended at 1,538.89 points, after climbing 6.5 percent in the previous two sessions. Blue chips retreated 0.74 percent to 739.90 points. OTE ended 2.87 percent lower at 9.46 euros, after jumping more than 5 percent in the last few sessions. Telecoms slipped 1.05 percent and banks 0.93 percent. Mid-caps ended up 0.29 percent. Small-caps on the bourse’s FTSE/ASE-80 firmed 0.16 percent. Turnover eased to 45.53 million euros, with 17.5 million shares changing hands. Losers beat winners 146 to 140, with 71 shares unchanged on 357 traded. (Reuters)