(Updates with full closing market report)
ATHENS (Thomson Financial) - Greek shares closed lower as investors cashed
in on recent blue chip gains due to negative international market sentiment.
The ASE general index fell 1.4 percent to 4,205.7 and the blue chip index
lost 1.8 percent to 2,223.5. Midcaps edged 0.2 percent higher to 5,105.2 and the
small cap index slid 0.2 percent to 951.5.
Decliners outnumbered advancers 147 to 83 and 94 remained unchanged in very
heavy trade of roughly 849 million euros, which was skewed higher by block
trades of Neochimiki and Alapis.
Refiner Hellenic Petroleum SA grew 0.4 percent to 10.04 euros and Hellenic
Exchanges SA gained 0.9 percent to 14.56 euros ahead of their first quarter
results announcements scheduled for Monday.
Pharmaceutical company Alapis SA grew 0.4 percent to 2.1 euros. Sources told
Thomson Financial News that its President Lavrentis Lavrentiaids has placed 14
percent of outstanding shares from his prior 29 percent stake-holding in the
company to foreign institutional investors.
Chemicals company Neochimiki SA closed 1 percent higher at 18.7 euros. The
Carlyle group confirmed source reports by Thomson Financial News that it had
acquired a 73.5 percent stake in Neochimiki at 19 euros per share.
Packaging company M.J. Maillis SA jumped 6.1 percent to 1.04 euros,
rebounding after falling 18 percent yesterday on its announcement of lacklustre
first quarter results. Brokers said that its margins are improving, but sales
volumes were weaker than expected.
The banking sector led blue chips lower throughout the session, falling 2.4
percent. EFG Eurobank Ergasias SA closed 3.6 percent lower at 18.5 euros, the
Greek Postal Savings Bank SA slid 3.5 percent to 12.5 euros, Bank of Cyprus
Public Company Ltd lost 2.8 percent to 8.92 euros and National Bank of Greece SA
lost 2.6 percent to 35.52 euros.
Betting technology Intralot SA continued falling and slid 2.5 percent to
11.5 euros on the negative sentiment around shares after its management
announced what analysts called disappointing 2008 guidance.
Source: Euro2day.gr Newswire
cheryl.novak@thomsonreuters.com
cn/ra
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