ECONOMY

Late buying allows ASE to finish 0.06 pct higher

Shares closed almost flat after seesaw trading yesterday, with the index clinging to the psychological 2,000-point level with the help of late buying in index heavyweights, traders said. The benchmark general share index rose 0.06 percent to 2,002.63 points, after a 1.8 percent slide over last week. «There is no new capital coming into the market. Institutional and other investors are cautious and worry that the market will move to lower levels,» said Vassilis Antoniadis of Marfin Mutual Funds Management. «There is no clear direction on the index and as long as the market stays at these levels, a slide might happen easily.» Traders said it was last-minute buying in National Bank, OTE and Public Power Corporation that swung the index round a few minutes before the end of the session. «This last-minute support does not mean anything,» said analyst Alexandros Antzoulidis at Aspis Securities. «The climate remains negative.» OTE closed 0.22 percent up at 9.34 euros, while its mobile arm CosmOTE was the loser of the day among blue chips; its shares closing down 2.79 percent to 9.50 euros. Turnover fell to 87.62 million euros, with 21.3 million shares changing hands. Decliners led advancers 223 to 81, with 58 unchanged against 362 traded. (Reuters)