ECONOMY

Bourse index dips below the 2,400-point mark

Weak banks knocked Greek equities a notch below the 2,400-point mark yesterday as investors braced for nine-month earnings surprises and the feel-good effect of the Cabinet reshuffle waned. The Athens bourse benchmark general index ended down 0.58 percent at 2,391.34 points after reaching an intra-session high of 2,421.04 points. Heavily weighted banks lost 1.04 percent. Mobile operator Panafon shone, bucking the trend on the bourse by adding 3.05 percent to 5.40 euros, continuing its advance from record lows. It has recovered 40 percent since slumping to a lifetime low of 3.86 euros on September 21. Bellwether National lost 1.49 percent to 26.50 euros. Shares of Aluminum of Greece, a 60-percent Pechiney subsidiary, closed with gains of 6.81 percent to 31.38 euros on news they will be included in the bourse’s blue chip index as of December 1. Blue chips on the FTSE/ASE index shed 0.71 percent to 1,329.90 points. Mid-caps were down 0.50 percent while small-caps lost 0.64 percent. Turnover was 84.54 million euros on 19.3 million shares traded. Losers beat winners 244 to 81 with 35 shares unchanged on 360 traded. (Reuters) In conventional winemaking, the level is as high as 240 mg/l in sweet wines. Many producers say that using entirely organic methods harms the commercial value of a wine, because when a vineyard has a bad year, the effect on the product is immediate. Quality is not stable. Wine is like a raw material. If the vineyard does not produce a good crop one year, the wine will be of lower quality.