ECONOMY

Terror attack results in fall to 10-week low

Shares fell to a 10-week low yesterday, underperforming European markets. «Investors took profits amid uncertainty after the bombings in Spain and the market’s inability to move to the upside,» said investment manager Vassilis Antoniadis at Marfin Investment Fund. The general share index settled 2.33 percent lower at 2,363.66 points, its lowest close since January 5. Stock index futures on the bourse’s blue chip index maturing in April and May traded at a 12-point discount to fair value, implying a further downside for the underlying stocks. Among blue chips, telecoms equipment maker Intracom was the biggest loser, shedding 6.15 percent to 4.58 euros after denying press reports that a major global player was considering acquiring a stake in the company. Traders said investors continued to book profits from banks after their recent gains. National Bank ended 3.83 percent lower while Alpha Bank lost 2.06 percent. Blue chips ended 2.44 percent lower, mid-caps retreated 2.31 percent and small-caps lost 3.17 percent. Turnover fell to 122.72 million euros, with 22.6 million shares changing hands. Decliners led advancers 299 to 33. (Reuters)