ECONOMY

Slide continues for sixth straight session

Equities fell for the sixth straight session yesterday, in line with sliding European markets, while index heavyweight OTE Telecom continued to bleed, losing more than 3 percent. OTE has lost about 22 percent so far this month on concerns the group would lose its edge in the face of lackluster foreign investments. «OTE has failed to clear up question marks regarding its Romanian investment and next quarter’s earnings numbers. Certain institutionals did not like this,» said a broker. OTE shares trimmed earlier losses to end off 3.11 percent at 11.20 euros, while telecoms fell 3.25 percent. The Athens benchmark general index fell 1.57 percent to 1,868.74 points. Blue chips on the FTSE/ASE-20 index dropped 1.56 percent to 953.97 points. Mid-caps dropped 1.31 percent, while small-caps eased 1.05 percent. Turnover was 119.32 million euros on 26.8 million shares traded. Losers beat winners 241 to 88 while 36 shares were unchanged on 362 traded. (Reuters)