ECONOMY

Index ends in black due to interest in PPC sale

Shares regained their footing yesterday after two days of losses with electricity utility Public Power Corporation (PPC) leading the rebound on the last day of its share offering. «Momentum was driven principally by PPC as early indications show strong interest in the offering,» said analyst Vassilis Vlastarakis at Contalexis Financial Services. The benchmark general share index rose 0.47 percent to 2,102.10 points, outperforming major European bourses. Athens lost 1 percent on the week. Shares in PPC advanced 2.95 percent to 18.12 euros, their highest level in two months. An offering of up to 15.7 percent of the electricity utility by the State, priced between 16.40 euros and 17.72 euros, ends today. National Bank retreated 0.67 percent to 17.74 euros despite a 38.4 percent rise in nine-month profit reported a day earlier. Analysts said concerns on telecom operator OTE’s nine-month results, expected in late November, weighed on the stock which lost 0.21 percent to 9.52 euros. Mobile unit CosmOTE fell 1.19 percent to 9.96 euros. Turnover eased to 98.13 million euros, with 18.5 million shares changing hands. Losers outnumbered winners 163 to 130, with 69 ending unchanged. (Reuters)