ECONOMY

Positive first-quarter results attract investors

Shares ended the last day of the first-quarter reporting season on a positive note yesterday, as the period’s generally positive results lured buyers back to the market, traders said. The general share index closed 1.71 percent higher at 2,423.72 points, resisting the European retreat. «The picture of first-quarter results is positive, with a few exceptions, as in the case of OTE,» said fund manager Vassilis Antoniadis at Marfin Mutual Funds. «Most large-caps… announced earnings in line with forecasts or above.» OTE was the star of the session, closing 3.26 percent up at 10.78 euros, with traders saying some foreign institutionals saw the share as a bargain after its recent drop. Gaming group OPAP was the surprise of the day, closing 1.25 percent down at 15.74 euros, despite a more than seven-fold jump in first-quarter net profit after it freed up provisions set aside to cover potential damage claims by gaming system operator Intralot. Blue chips gained 2.11 percent, mid-caps rose 0.34 percent and small-caps added 1.71 percent. Turnover rose to 273.24 million euros, with 35.65 million shares changing hands. Gainers outnumbered decliners 210 to 89. (Reuters)