Greek shares sharply lower in late morning trade, led down by Bank of Cyprus |
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Wed, 10 Jan 2007 10:56
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ATHENS - Shares were sharply lower in late morning trade, in line with losses in Asian and on peer European bourses, and led down by Bank of Cyprus, brokers said.At 11.25 am the ASE general index was down 1.1 pct at 4,532.1 points, and blue chips were dipping 1.3 pct at 2,469.4 points. Mid caps were down 1 pct to 5,264.9 points, and small caps were down 0.9 pct to 868.8 points.Bank of Cyprus was falling 2.8 pct to 11 eur on news that Bank of Piraeus CEO Mihalis Sallas said they will sell their stake of about 8 pct in Bank of Cyprus at the appropriate time and a new offer for its acquisition will not be forthcoming.Bank of Piraeus was also down 1.6 pct to 24.82 eur on the same news.Alpha Bank was down 1.3 pct to 24.14 eur on news that it issued a 1.5 bln eur floating rate note.National Bank of Greece was down 1.1 pct to 36.58 eur on profit-taking and unaffected by its announcement that one day after the launch of the tender offer for the minorities of Turkeys Finansbank, it has acquired 34.4 pct of its share capital, raising its total participation to 80.4 pct.Greek Postal Savings Bank was 0.6 pct lower to 18.10 eur on reports that the government is considering placing a 15 pct stake within the next few months, lowering its stake to 51 pct from 66 pct.Bottler Coca-Cola HBC was 0.4 pct lower to 30.88 eur, after broker HSBC cut the stock to neutral from overweight on valuation grounds.Source: Euro2day.gr NewsWireskrekas@euro2day.grns/icCOPYRIGHTCopyright 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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Bank of Piraeus to sell 8 pct stake in Bank of Cyprus at 'appropriate time' 