ECONOMY

Index briefly tops 2,500 points, then retreats

Shares ended almost flat yesterday, giving up early gains, on what traders said was a short-term consolidation phase after a 2 percent climb in the previous day. «The market started in an upbeat mood that turned into a slide on profit-taking; there was no news that could pull up the market,» said analyst Antonis Kouleimanis at Devletoglou Securities. The general share index closed 0.07 percent up at 2,491.04 points. It pierced the 2,500-mark midsession. Blue chips rose 0.11 percent, while mid-caps retreated slightly and small-caps inched up. Among blue chips, mobile phone firm Cosmote gained 1.21 percent while Titan Cement was the outperformer of the day, rising 3.48 percent to close at 35.06 euros. «The stock had been a laggard in previous sessions, it was time for it to catch up,» a trader said. General Bank is still on a winning streak on the back of news earlier in the week that France’s Societe Generale would be its majority shareholder. It rose 2.47 percent to 7.46 euros after gaining more than 8 percent rally in the previous session. Turnover eased to 227.74 million euros, with 36.9 million shares changing hands. Advancers trailed decliners 89 to 201 with 67 unchanged. (Reuters)