ECONOMY

Telecoms dominant but stable in a luckluster session

Greek stocks made small gains at the end of a luckluster session on Thursday, with OTE telecoms accounting for more than 40 percent of the 20.1 million euro turnover.

The Athens Exchange (ATHEX) benchmark index added 0.13 percent to closing at 612.29 points, despite the blue chip FTSE-20 index shedding 0.09 percent.

OTE was unchanged at 2.08 euros, after announcing second quarter results above analysts? estimates. All three major banks that submitted bids for Credit Agricole?s Emporiki subsidiary on Wednesday lost ground.

Alpha was down 2.33 percent, National lost 1.52 percent and Eurobank gave up 4.06 percent. Public Power Corp dived 3.29 percent. By contrast, gambling company OPAP, high on the government?s privatizations list, added 1.36 percent. Hellenic Petroleum surged 3.21 percent.