Market rallies toward end of lackluster session
Losers beat winners 168 to 149. Turnover was 153.52 million euros. (Reuters) Late-session buying helped lift Greek equities into positive territory yesterday as the Public Power Corporation (PPC) outperformed after news that it would be included in the bourse’s composite general index. The inclusion of PPC in the general index was important but the stock also looked to have temporarily bottomed out. Its future performance will depend on international developments, said Constantinos Dalamanis, managing director at Rate Capital Securities. PPC gained 2.69 percent to 12.20 euros after shedding more than 6 percent since its listing last week. The Athens benchmark general index advanced 0.59 percent to 2,578.06 points after dipping to an intrasession low of 2,544.28 points. Blue chips gained 0.94 percent to 1,423.34 points. Mid-caps shed 0.09 percent; small-caps firmed 0.04 percent. It was a disappointing day given the gains in European markets. .. (The market’s strong finish) hints at a positive start tomorrow, said Grigoris Karagiannopoulos, Kyprou Securities analyst. 20,000 drachmas ‘lavished’ on conservation
