ECONOMY

Index up 0.41 pct as investors wait for more results

Equities trimmed midsession gains yesterday to end 0.41 percent higher as the market consolidated after Friday’s sharp correction. The tempo of the previous few days continued with a tendency for consolidation. Friday’s correction was excessive and this was seen by (yesterday’s) opening gains, said Spyros Koutras, analyst at Nexus Securities. The benchmark general index rose to an intrasession high of 2,714.11 points but the early bounce after Friday’s 2.65 percent slide fizzled, leaving the market at 2,685.93 points. The upward trend doesn’t look like it has ended, said Nikos Galoussis, analyst at Kappa Securities. Banks, index heavyweights, were almost unchanged at 0.08 percent higher, while telecom stocks advanced 0.58 percent. Turnover eased to 156.26 million euros from 203 million on Friday in what brokers said was a low-interest session as investors waited for more nine-month results, with the reporting season drawing to an end on Friday. Blue chips firmed 0.25 percent to 1,463.22 points. Mid-caps on the FTSE/ASE-40 index rose 0.68 percent and small-caps 0.19 percent.(Reuters) The reality