Market reverses early losses, ends slightly up
Shares reversed early losses to settle with small gains yesterday, tracking firmer European markets, with blue chips OPAP and Public Power Corporation (PPC) gaining ground. «Positive sentiment across Europe spilled over to the Greek market today,» said analyst Andreas Alexiou at Beta Securities. The general share index rose 0.78 percent to 2,382.05 points after dipping to an intrasession low of 2,335.63 points. Electricity utility PPC rose 0.79 percent to 20.48 euros, as investors cheered the Development Ministry’s decision to retain current chief executive Sergios Nezis at his post. «The stock is up on this news. The market welcomes the decision,» said a trader. Banks traded mixed, with National Bank shedding 0.47 percent to 20.98 euros. The market awaits the government’s pick of a new chairman to fill the post after the death of Theodoros Karatzas earlier this month. Gaming group OPAP gained 2.75 percent to 14.18 euros after dropping to 13.50 euros in early trade. «Some investors saw a buying opportunity after the stock fell below 14 euros intrasession,» said Alexiou. Blue chips advanced 0.80 percent, mid-caps rose 0.30 percent and small-caps added 0.13 percent. (Reuters)
