ECONOMY

Shares down 0.62 pct as investors await PPC debut

Equities ended 0.62 percent lower yesterday after rangebound trading ahead of a rate decision by the US Federal Reserve and today’s debut of Public Power Corporation (PPC). The Athens bourse’s benchmark general index ended at 2,645.38 points, with analysts saying the 2,640-point level was acting as strong support for the market. Blue chips on the FTSE/ASE index shed 0.51 percent to 1,449.88 points with banks losing 0.44 percent. Mid-caps lost 0.59 percent and small-caps shed 0.86 percent. Trading volumes were again muted at 121.99 million euros. Analysts said they hoped today’s trade debut by PPC could give volumes a boost. I think PPC will do well in its debut. It went public at a good price and it’s a big issue. It may do what OTE did four years ago and that’s draw foreign attention to the Greek market again, said head analyst at Nexus Securities Spyros Koutras. PPC’s initial public offering was subscribed 1.8 times with the final offering price fixed at 12.70 euros per share, at the lower end of the 12.3- to 14.7-euro price range. Losers beat winners 228 to 86 with 42 shares unchanged on 356 traded. No, we certainly do not know all the species or their populations. For example, scientists are still exploring the depths of the oceans for new species of marine organisms. In addition, many microorganisms living in the soil remain unexplored for their potential to produce leads for new medicines because they have not been found yet, or if they have, they cannot be cultured in the laboratory. The same situation is likely to be true for plants.