Greek shares slightly lower in early afternoon trade, but small caps gain |
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Thu, 08 Feb 2007 12:39
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ATHENS (AFX) - Shares were slightly lower in early afternoon trade, as the market shed opening gains, but Intralot and small caps were gaining, dealers said.At 1.10 pm the ASE general index was 0.2 pct lower at 4,719.1 points, with advancers outnumbering decliners, 119 to 88. The bluechip index was down 0.3 pct at 2,566.8 points. Mid-caps were 0.3 pct lower at 5,676.5 points, but small caps were outperforming, rising 1.2 pct to 926.7 points.Betting technology company Intralot was rising 2.4 pct to 26.32 eur on press reports that its management said that they will exceed their full-year guidance of 700 mln eur for group sales.Small-cap household chemical products maker Lamda Detergent was soaring 7.2 pct to 7.96 eur after Deutsche Bank initiated coverage with a 'buy' rating and a target price of 9.40 eur citing its growth potential in emerging European markets.Hellenic Exchanges Holdings was dipping 2.9 pct to 17.86 eur because UBS cut the stock to 'neutral' from 'buy' due to its recent strong share price performance.Hellenic Telecomms (OTE) was up 1.3 pct to 22.62 eur unaffected by broker Goldman Sachs dropping it from its conviction list even though they still rate it a 'buy' with a target price of 26.77 eur.Bank of Cyprus reversed early gains and was down 1.5 pct to 11.98 eur on profit-taking. Several brokers issued reports today upgrading their target prices because their full-year results and new business plan released yesterday pleased analysts.EFG Eurobank was down 0.9 pct to 30.52 eur and is expected to announce its full-year results this afternoon. Median consensus forecasts expect that group net profits will rise 30.3 pct year-on-year to 652.8 mln eur.National Bank of Greece was 0.8 pct lower to 39.54 eur on news that it missed out on acquiring Ukrainian bank TAS Kommerzbank.Marfin Popular Bank was unchanged at 8.26 eur after it said that its 2006 full-year group net profits jumped 235 pct year-on-year to 396.6 mln eur under IFRS.Source: Euro2day.gr NewsWireskrekas@euro2day.grns/ambCOPYRIGHTCopyright AFX News Limited 2006. 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 lower in early afternoon trade, led down by Coca-Cola HBC 