ECONOMY

Telecoms drag down market; index drops 1.05 pct

A downhill drop in European telecom stocks made Greek peers give up early gains on the Athens bourse yesterday with the market ending 1.05 percent lower. The bourse’s telecoms index trimmed losses to end off 0.65 percent, outperforming European telecoms stocks which were being hammered to near two-year lows. The DJ Stoxx telecoms index was down over 2.5 percent, close to the all-time low hit in August. The fall is coming clearly from the negative psychology in European markets. But volume was also lower, which shows that the Greek market is resisting more strongly than in the past, said Gregory Karayiannopoulos, head of research at Kyprou Securities. The Athens benchmark general index fell 1.05 percent to 2,733.24 points, with banks down 1.06 percent. The FTSE/ASE-20 index of blue chips slipped 0.96 percent to 1,536.36 points, while the FTSE/ASE-40 index of mid-caps shed 2.20 percent. Small-caps dropped 2.40 percent. Turnover came to 106.99 million euros on 19.4 million shares traded. Losers beat winners 283 to 57 with 22 unchanged on 362 traded.(Reuters) The greatest differences between the regions are in the percentages of the population with tertiary education, and then of those with only primary education. To answer the question of if, and to what extent, the level of education is linked to per capita GDP in UPPs, it should be noted that three of the 13 regions have peculiarities which exclude them from consideration.