ECONOMY

Stocks track European markets lower

Greek stocks fell nearly 1 percent yesterday, weighed down by gloomy international markets. Investors sought refuge in defensive picks OTE Telecom and Public Power Corporation (PPC). OTE trimmed earlier gains to end up 0.12 percent at 17.34 euros while the telecoms stock index slipped 0.68 percent. Utility PPC advanced 0.55 percent to 14.70 euros after joining the bourse’s blue chip index and Morgan Stanley Greece Index on Monday. The Athens bourse’s benchmark general index fell 0.93 percent to 2,258.29 points, after spending the whole session in negative territory. Banks, index heavyweights, shed 0.82 percent while the bourse’s FTSE/ASE-20 blue chip index fell 0.83 percent to 1,192.21 points. Mid-caps slipped 0.88 percent and small-caps lost 1.80 percent. Turnover was 79.92 million euros on volume of 15.0 million shares. Losers beat winners 307 to 25 while 29 shares were unchanged on 361 traded. (Reuters) Metaxa distillers, Hellenic Bottling Company (3E) and Tasty Foods have been fined sums of 250,000 euros, 350,000 euros and 152,000 euros respectively for improperly discharging liquid waste.