ECONOMY

Shares get boost from other European markets

Shares claimed back the 2,400-point level yesterday, helped by European markets that led utility-led gains after tame US inflation data allayed fears the Fed would have reacted aggressively in raising rates. «The uptrend across Europe gave the market a boost at the end,» said head of derivatives Nikos Galousis at Kappa Securities. The general share index ended 0.76 percent up at 2,402.88 points, in line with European markets. Traders said there was no domestic market-moving news on the horizon and investors seemed a bit cautious. Blue chips closed 0.80 percent up, boosted by mobile operator CosmOTE rising 3.82 percent to 13.06 euros after news the firm joined the FTSE4Good index series, an ethical investment index run by the UK’s FTSE International. Telecoms equipment-maker Intracom retreated 0.51 percent to close at 3.94 euros, having reached an intrasession year-to-date low after it forecast a 13.7 percent fall in its 2004 pretax profit during a presentation to institutional investors. Mid-caps rose 0.14 percent, while small-caps fell 0.51 percent. Turnover rose to 108.33 million euros, with 22.6 million shares changing hands. Losers outnumbered winners 151 to 125, with 77 shares remaining flat. (Reuters)