Intracom and Vodafone outperform

Shares bounced back yesterday, reversing three sessions of losses, with mobile operator Vodafone-Panafon and telecom equipment maker Intracom outperforming. Intracom confirmed it is in talks with British mobile group Vodafone to sell its 9.43 percent stake in Panafon, valued at around 318 million euros at current prices. Shares in Intracom rose 1.15 percent to 7.04 euros, versus a year-high of 7.52 euros set on August 4. Vodafone-Panafon shares gained 1.63 percent to 6.22 euros. The benchmark general share index gained 0.35 percent to 2,146.39 points. Turnover eased to 122.60 million euros. Banks firmed 0.31 percent. «The market could come under pressure next week, possibly easing to the 2,100 level, with telecom and banking stocks unable to sustain the pace,» said head analyst Ileias Lazaris at Artion Securities. Gainers outnumbered decliners 224 to 77, with 61 unchanged against 362 traded. (Reuters)

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