Greek shares up on bank, telecom gains, helped by European markets

AFX Europe (Focus)
Jan 03, 2005

ATHENS (AFX) – Greek equities started the new year with solid gains in
banks and telecoms as the general index climbed above the 2,800 point
mark, spurred on by positive performances in European markets, brokers
said.

The Athens bourse benchmark general advanced 1.38 pct to 2,824.67
points.

Brokers said the halving of a tax applicable on stock sell
transactions from 0.3 pct to 0.15 pct, effective as of today, helped
encourage intra session trading.

Blue chips rose 1.76 pct and banks gained 2.19 pct.

National Bank, Greeceýs largest lender, rallied 2.80 pct to 24.96
eur.and Eurobank closed at 26 euro, up 2.85 pct.

Emporiki Bank, 11 pct owned by Franceýs Credit Agricole, gained 1.11
pct to 23.58 eur. Earlier a senior Emporiki Bank source said that the
bank intendsto sell its subsidiaries in Armenia and Georgia as part of
the groupýs restructuring process.

Index heavyweight OTE Telecom, Greeceýs largest phone company, rose
3.18 pct to 13.64 eur. Telecom equipment provider Intracom
outperformed rising 3.02 pct to 4.10 eur.

Energy monopoly PPC advanced 1.36 pct to 20.88 eur while lottery
operator OPAP inched ahead 0.29 pct at 20.42 eur.

Small caps shed 0.88 pct and mid caps firmed 0.64 pct.

Losers beat winners 202 to 84 with 90 stocks unchanged on a volume of
138 mln eur.

Source: Euro2day, Athens