ECONOMY

Late boost by OTE and PPC wipes out bourse losses

The Greek bourse’s benchmark index appeared determined not to end in the red on Wednesday. Despite spending most of the day in negative territory, it reversed losses in the final hour of trading to post a marginal rise with the help of utilities OTE telecom and Public Power Corporation (PPC).

The Athens Exchange (ATHEX) general index closed at 1,111.71 points, adding 0.11 percent to Tuesday’s 1,110.45 points, while the large-cap FTSE/ATHEX 25 contracted by 0.20 percent to end at 369.28 points.

After the 21 percent total rise in the four sessions from October 3 to 8, the banks’ index fell by 3.45 percent yesterday, with National shedding 6.84 percent and Piraeus giving up 2.07 percent.

On the other hand, OTE climbed by 3.94 percent and PPC rose by 3.03 percent.

In total, 67 stocks rose, 62 declined and 32 stayed put.

Turnover fell to 105.3 million euros from Tuesday’s 131 million.