ECONOMY

Stocks take a 0.39-percent tumble

Greek equities ended 0.39 percent lower yesterday as steep losses in index heavyweight OTE Telecom hurt market sentiment, insulating the Athens bourse general index from advancing European peers. OTE’s losses over the past week – as concerns mount about its earnings outlook and apparent delays in restructuring its biggest foreign investment, Romtelecom – have weighed on the Greek bourse. The stock which has lost more than 17 percent this month, fell another 1.97 percent to a new year-low of 11.92 euros. The Athens benchmark general index ended at 1,933.18 points after an early session bounce pushed the index as high as 1,967.54. Blue chips briefly regained the 1,000-point mark, but ended 0.64 percent lower at 987.32 points. Greek mid-caps dropped 0.67 percent. Turnover was 70.76 million euros on 17.2 million shares traded. Losers beat winners 203 to 113, while 43 shares were unchanged on 359 traded. (Reuters)