ECONOMY

Shopping for cheap stocks helps index limit losses

Late-session bottom fishing helped Greek equities to trim losses of more than 1 percent yesterday after the bourse fell into step with European bourses for most of the session. The benchmark general index ended off 0.42 percent at 2,669.70 points after sliding to a midday low of 2,651.17, or 1.11 percent. There were two sides to today’s trading session: We followed international markets up to the last half-hour and then contained the losses, bringing the general index to its technical support level of 2,670 points, said analyst Marinos Yourgas at Market Securities. The FTSE/ASE-20 index of blue chips slipped 0.45 percent to 1,500.62 points, while the FTSE/ASE Mid-40 index of mid-caps shed 0.46 percent. Small-caps dropped 1.16 percent. Small- and mid-caps came under some pressure today as many companies reported first-half results that were below expectations, said analyst Elias Athanasiou at Selas Investments. Banks closed off 0.38 percent and the telecoms subindex also eased 0.13 percent. Turnover came to 135.59 million euros on 19.9 million shares traded (Reuters) For them and others, the two years since the quake have been a worse nightmare than the 30 terrible seconds that changed their lives forever.