Greek shares close slightly lower in quiet trade - UPDATE |
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Mon, 02 Apr 2007 15:25
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(Update with full reports)ATHENS (AFX) - Greek shares closed slightly lower in below average trade as investors digested the last batch of 2006 full-year results and as poor performance in emerging markets impacted local sentiment, dealers said.The ASE general index finished down 0.3 pct at 4,625.8 led down by the blue-chips, which closed 0.6 pct lower at 2,471.8.Mid-caps closed higher, up 0.5 pct to 5,857.6 while small-caps closed almost unchanged at 892.1.Decliners outnumbered advancers 147 to 115 while 55 remained unchanged in below average trade of roughly 330 mln eur.Electricity utility company Public Power Corp led blue-chip decliners throughout most of the session, down 3.9 pct to 17.60 eur on continuing negative sentiment following weak full-year results announced last week.Titan Cement climbed 2.2 pct to 41.30 eur on news that its US unit had acquired the Cumberland Quarry in Kentucky, USA for 36 mln usd.Greek Postal Savings Bank sank 2.3 pct to 18.5 eur after it announced that full-year results announcements are postponed and the Greek Capital Markets Commission gave them until April 15th to post.Construction holding company Hellenic Technodomiki slipped 0.7 pct to 10.92 eur on its announcement that full-year group net profits 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 expected.Construction and energy holding company Gek closed 0.9 pct high at 11.00 eur after announcing that full-year net profit increased by 10.6 pct year-on-year to 20.7 mln eur.Gek's construction arm Terna closed 1 pct lower to 13.86 eur on profit-taking following their announcement of solid results last Friday after the close of trade.Lafarge's Greek unit Heracles Cement jumped 2.7 pct to 17.56 eur on its news that full-year sales were up 13.9 pct year-on-year to 693.7 mln eur. Metals holding company Viohalco led blue-chip gainers, rising 3.1 pct to 11.9 eur, after it said full-year group net profits jumped 460 pct to 113 mln eur.Construction company J&P Avax jumped 4.2 pct to 7.4 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 NewsWirecheryl@euro2day.grcn/sljCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.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
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Greek shares slightly lower in quiet early afternoon trade 