Bourse misses rebound, EYDAP plunges

Fears of a supply of new paper as the government steps up the pace in its privatization program kept Greek equities volatile yesterday, unable to track a rebound in European markets. The Athens benchmark general index fell 0.22 percent to 2,220.10 points. The Athens Water Company (EYDAP) fell heavily, losing 4.45 percent to 4.72 euros as speculation swirled it was next in line for a government stake reduction. «Market sentiment has been hurt by the way the State sold the (8-percent) OTE stake and this is putting pressure on other state-run listed companies which may face additional offerings,» said analyst Thomas Achimastos at Kyklos Securities. The bourse’s FTSE/ASE-20 blue chip index fell 0.45 percent to 1,168.46 points with banks shedding 0.55 percent. Mid-caps gained 0.15 percent with small-caps off 0.07 percent. Turnover was 72.09 million euros on 13.8 million shares traded. Winners beat losers 159 to 130 while 68 shares were unchanged on 357 traded. (Reuters) Discounted investment