ECONOMY

Lack of corporate news leads to slight decline

Shares extended losses yesterday, with the subdued mood contrasting with the euphoria across the country after the Greek team made it into the Euro 2004 finals against the odds. «We saw a lack of buying interest today amid thin trade in the absence of market-moving corporate news. It seems like we are entering a period of low volatility and low volume,» said analyst Stavros Christodoulou at Guardian Trust. The general share index ended 0.16 percent lower at 2,333.33 points. Blue chips fell 0.35 percent, mid-caps were virtually flat and small-caps lost 0.14 percent. CosmOTE gained 2.18 percent to 13.10 euros after Deutsche Bank raised its price target on shares of the mobile operator to 15.5 from 14.5 euros previously and kept its «Buy» rating. The Public Power Corporation lost 1.97 percent to 18.94 euros on concerns the European Commission may act to force Greece to open up its energy market. National Bank fell 1.93 percent to 17.28 euros. It will buy up to 5 million own shares between July 15 to October 15 at a price range of 4.5 euros to 26.92 euros, it said on Friday. Turnover nosed up to 95.02 million euros, with 14.18 million shares changing hands. Losers outnumbered winners 156 to 125, with 78 shares unchanged. (Reuters)