ECONOMY

Index rises as investors do last-minute buying

Shares ended in positive territory yesterday as institutional investors rejigged their portfolios as part of a window-dressing exercise at the end of the month, traders said. «Banks and institutional investors did some window dressing at the end of the month, helping to create buying interest. I don’t see it lasting, though, the market could resume its downward trend tomorrow,» said head analyst Vassilis Vlastarakis at Contalexis Financial Services. The general share index added 0.86 percent to 2,019.76 points. Mobile operator Vodafone-Panafon advanced 2.68 percent to 6.12 euros, not far from a year-high of 6.26 euros set on September 4. Shares will trade ex-dividend today, with the dividend set at 11 cents per share. Rival CosmOTE gained 2.25 percent to 9.98 euros. «It’s a reaction to losses in previous sessions,» said Vlastarakis. Speculation that the company could be embroiled in parent OTE’s mobile assets abroad had weighed on the stock. General Bank rose 5.24 percent to 6.02 euros as investors reacted positively to news that Marfin Bank is interested in buying a controlling stake. Turnover rose to 111.30 million euros, with 28.19 million shares changing hands. Advancers led decliners 208 to 90, with 62 unchanged against 360 traded. (Reuters)