ECONOMY

Index, still affected by security, drops 0.26 pct

Shares fell below the 2,300-point level on Wednesday, affected by security jitters that have driven European markets lower, but oil refiner Hellenic Petroleum outperformed after the government picked a new CEO. Markets remained closed yesterday, a national holiday. «The market today was volatile, with investors looking abroad for direction. We see the next support level at 2,200 points,» said analyst Stavros Christodoulou at Guardian Trust. The benchmark general share index closed 0.26 percent lower at 2,295.32 points, with blue chips shedding 0.73 percent. Small-caps and mid-caps ended 0.39 percent and 0.62 percent higher, respectively. Traders said investors were pleased with the government’s decision to recommend former Bank of Greece Governor Timos Christodoulou, 72, as chairman and chief executive of Hellenic Petroleum, sending its shares up 2.65 percent to 6.98 euros. The government also appointed former EU commissioner Ioannis Palaiokrassas, 70, to the post of chairman at electricity utility Public Power Corporation, with the news lifting the stock up 0.29 percent to 20.56 euros. Turnover rose to 135.13 million euros, with 27.78 million shares changing hands. Advancers led decliners 185 to 116. (Reuters)