ECONOMY

OPAP, OTE losses weigh on bourse

Greek stocks dipped yesterday as losses in blue chips OPAP and OTE telecom offset moderate gains in banks. The Athens bourse’s benchmark general index eased 0.46 percent to 1,523.06 points. The blue chip FTSE/ATHEX 20 index shed 0.86 percent to 726.87 points. Banks advanced 0.84 percent as Eurobank outperformed with gains of 0.97 percent to end at 4.18 euros. National Bank added 0.05 percent to 10.05 euros, bringing gains in the last week to 4.15 percent. Betting company OPAP slumped 8.59 percent to 11.70 euros after going ex-dividend. The company paid shareholders a 1.10-euro dividend for 2009 on top of a 0.65-euro interim dividend paid at the end of last year. Aegean Airlines gave up 0.82 percent to 2.42 euros after Citigroup cut its target price to 3.40 euros from 5.60 euros previously. Citigroup has a buy rating on the stock. OTE telecom also ranked among the losers, dipping 1.83 percent to end up at 5.89 euros. Earlier, Goldman Sachs cut its target price on OTE to 6.50 euros from 7.80 euros. Turnover dipped to 81.8 million euros from 111.7 million euros in the previous session.