ECONOMY

Index slightly lower as investors pocket gains

Shares closed with small losses yesterday on what analysts said was profit-taking after Monday’s technical rebound and some portfolio reshuffling as the second quarter draws to a close. Lack of domestic news-flow had all eyes trained on Europe, where markets eased on downbeat comments from some US companies, casting doubt on the strength of future earnings, as well as nervousness ahead of a two-day policy meeting by the US Federal Reserve. The general share index closed 0.15 percent lower at 2,339,17 points. Blue chips ended practically flat, mid-caps retreated 0.21 percent, while small-caps lost 1.08 percent. OPAP closed 0.91 percent up at 15.46 euros, topping the volume list on what traders said were block trades by foreign banks and institutionals. Electronics and telecommunications equipment retailer Germanos was the blue chip champion of the day, closing 2.51 percent up at a year-to-date high of 23.72 euros. Jeweler Folli-Follie closed 0.53 percent higher at a new year-to-date high of 26.68 euros. Turnover reached 116.15 million euros, with 18.3 million shares changing hands. Losers outnumbered winners 219 to 82, with 58 shares closing flat. (Reuters)