ECONOMY

Interest in blue chips offsets losses

Equities ended flat yesterday as mild blue chip gains offset weak mid-caps, while cellular operators Panafon and CosmOTE outperformed in late session buying. Buying interest in mobile phone companies got a boost after Stet Hellas reported nine-month earnings above market expectations. «After the first taste of earnings in the sector, there is optimism that Telestet’s peers will also come up with positive results,» said a telecoms analyst. Panafon added 3.8 percent to 4.92 euros and CosmOTE climbed 3.01 percent to 8.90 euros. Telecoms gained 1.90 percent overall. The Athens bourse’s benchmark general index ended virtually unchanged at 1,834.24 points, a rise of just 0.05 points. Blue chips firmed 0.16 percent. Mid-caps eased 0.40 percent, while small-caps slipped 0.50 percent. Turnover was 106.41 million euros on 27.5 million shares traded. Losers beat winners 193 to 119, with 50 shares unchanged on 362 traded. (Reuters)