ECONOMY

OTE gains as index ends slightly lower

Index heavyweight OTE Telecom outperformed yesterday after deciding not to bid for Bulgaria’s state telecom, as the broader market ended marginally lower on light volume. Brokers said OTE’s decision was a positive move for the group, reducing the risk profile of its regional exposure. «The only news-driven performance was that of OTE, as it is being rewarded for a sound financial decision, and not a political one,» said trader Nikos Diamantopoulos at Kappa Securities. OTE shares gained 0.91 percent to 17.74 euros, while the Athens bourse’s benchmark index eased 0.06 percent to 2,304.51 points. The bourse’s FTSE/ASE-20 blue chip index slipped 0.10 percent to 1,217.51 points. Mid-caps added 0.33 percent and small-caps advanced 0.40 percent. Turnover was 68.31 million euros on volume of 14.4 million shares. Winners beat losers 170 to 128, while 58 shares were unchanged on 356 traded. (Reuters) Robotics