ECONOMY

CosmOTE, PPC decline, affect index

A slide in utility PPC and mobile operator CosmOTE pushed Greek stocks lower yesterday with Coca-Cola HBC (CCHBC) bucking the trend after posting better-than-expected first-quarter results. CCHBC rose 1.06 percent to 13.30 euros after its group net loss narrowed more than expected. The general index eased 0.5 percent to 1,733.28 points. PPC fell as much as 4 percent but ended at 13.46 euros, off 2.6 percent. «The fact that the State may sell PPC shares as early as September came as a bit of a surprise but I think the pressure is a little overdone,» said one analyst who declined to be named. CosmOTE slid 3.77 percent to 9.18 euros after company estimates for first-quarter group results fell short of analyst expectations. Blue chips lost 0.47 percent to 858.04 points while mid-caps rose 0.03 percent and small-caps added 0.36 percent. Turnover fell to 103.48 million euros, with 28.3 million shares changing hands. Losers beat winners 158 to 137, with 62 unchanged on 357 traded. (Reuters)