ECONOMY

Heavy losses reversed by buoyant Wall Street

Late-session buying helped trim losses on the Athens bourse yesterday after the market dipped by more than 3 percent earlier over the US-led attacks on Afghanistan. ETBA Bank, which has gained close to 36 percent in the past two weeks on hopes of a successful sale of the State’s majority stake in the bank, shed 2.69 percent to 5.06 euros. Brokers said that news of Greece’s headline inflation dropping to 3.6 percent year-on-year in September, from 3.8 percent a month earlier, had no impact on trading. Buyers were encouraged by the upturn in Wall Street. Losses were trimmed easily as turnover was very low, said Spyros Papathanasiou, analyst at Value Capital Securities. Turnover was 77 million euros versus 122.22 million euros on Friday, on 19.9 million shares traded. The Athens bourse’s benchmark general index ended 1.52 percent lower at 2,215.30 points after dipping to an intrasession low of 2,169.52 points. Blue chips on the FTSE/ASE-20 index fell 1.53 percent to 1,240.45 points. Mid-caps on the FTSE/ASE-40 index fell 1.63 percent to 223.35 points and small-caps shed 1.30 percent. (Reuters) Bulgarian observers believe that these idiosyncratic interpretations perhaps favored the dynamic development of relations between Bulgaria and Greece during the 1980s.