Telecoms push index marginally higher

Shares ended higher yesterday with telecoms stocks outperforming, led by cellular operator CosmOTE. The benchmark general share index edged up 0.20 percent to 2,256.09 points, underperforming major European markets which moved higher on the back of firmer technology stocks. CosmOTE outperformed, adding 1.87 percent to 10.88 euros after it reported a better-than-expected 15.3 percent rise in first-half group net profit to 114.7 million euros on increased usage. Parent OTE, due to report results today, rose 1.43 percent to 11.34 euros, not far off from a year-high of 11.72 euros set a few days ago. Shares of Commercial Bank added 0.32 percent to 18.98 euros, as investors shrugged off press reports that France’s Credit Agricole might not exercise its right to buy an additional 9.6 percent in the bank. Turnover eased to 152.88 million euros, with 33.28 million shares changing hands. Decliners led advancers 165 to 143, with 56 unchanged against 364 shares traded. (Reuters)