Greek shares slightly lower in afternoon trade

Greek shares slightly lower in afternoon trade

	Published : Mon, 02 Apr 2007 11:38 By : Agencies Print this Story

ATHENS (AFX) - Greek shares were slightly lower in afternoon trade as investors digest the final 2006 full-year results which were announced after the close of trade Friday, dealers said.

At 1:00 pm, the ASE general index was 0.2 pct lower at 4,632.7. Decliners were outnumbering gainers 97 to 85 with 134 unchanged.

Bluechips were 0.3 pct lower at 2,480.9 while mid-caps were flat at 5,826.4 and small caps were 0.2 pct higher at 893.88.

Electricity utility company Public Power Corp was leading bluechip decliners, down 2.9 pct to 17.78 eur on continuing negative sentiment following weak full-year results announced last week.

Titan Cement was climbing 1.6 pct higher to 41.06 eur on news that its US unit acquired the Cumberland Quarry in Kentucky, USA, for 36 mln usd.

The Greek Postal Savings Bank was sinking 2.3 pct lower to 18.5 eur after saying that it will postpone full-year results announcements. The Greek Capital Markets Commission has given it until April 15 to post its results.

Construction holding company Hellenic Technodomiki was slipping 2.7 pct to 10.7 eur after it said full-year group net profits fell 22.1 pct year-on-year to 47.5 mln eur, from 61 mln eur. Separately, Euroxx Sec lowered Hellenic Technodomikis target price from 13 eur to 12.7 eur per share on its full-year results, which were worse than they expected.

Gek's construction arm Terna was down 0.7 pct to 13.9 eur on profit-taking following their announcement of solid results last Friday after the close of trade.

Lafarge's Greek unit Heracles Cement was jumping 2.3 pct to 17.5 eur on news that full-year sales were up 13.9 pct year-on-year to 693.7 mln eur.

Metals holding company Viohalco was leading bluechip gainers, rising 2.2 pct to 11.8 eur after it said full-year group net profits jumped 460 pct to 113 mln eur.

Construction company J&P Avax was up 2.5 pct to 7.28 eur after its target price was increased to 8.30 eur from 7.30 eur at Citigroup on its strong full-year results and record-high 1.5 bln eur back-log.

Source: Euro2day.gr NewsWire

cheryl@euro2day.gr

cn/amb

The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.

AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited