ECONOMY

General index sheds 0.56 percent in light trading

Equities slid in muted trade yesterday as a tech-led rally on European bourses deflated, with heavyweight banking stocks sliding down as investors continued to wait for market-moving news on the domestic front. Continued position-taking in selective blue chips such as telecom stocks and Coca Cola-HBC provided some support The benchmark general index fell 0.56 percent to 2,717.88 points. The market is characterized mainly by low trading volumes, the absence of investors and a lack of significant news which could give the bourse a boost, said Petros Tegopoulos, an analyst at Axon Securities. The FTSE/ASE-20 index of blue chips slipped 0.65 percent to 1,526.36 points, while the FTSE/ASE-40 index of mid-caps shed 1.43 percent. Small-caps dropped 0.70 percent. Banks ended down 1.07 percent, while telecoms added 0.53 percent. OTE was due to hold an extraordinary general shareholders meeting later on Tuesday to change the company’s articles of association. Turnover came to 107.92 million euros on 17.7 million shares traded. Losers beat winners 230 to 91 with 42 unchanged on 363 traded.(Reuters) The outcome of the competition is like a snapshot of wine quality for that year’s vintage. A wine that wins one year may not necessarily win the next. So it is worth pointing out that Domaine Gerovassiliou, which won a gold medal at Challenge 2001, also won the Prix d’Excellence in 1998.