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Greek Stocks: Ellaktor, Hellenic Telecom, Jumbo, Marfin Pop

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Nov. 19 (Bloomberg) -- The ASE Index fell 22.1, or 1.5 percent, to 1,480.73 as of 2:30 p.m. in Athens. The gauge is headed for a fourth week of losses.

The FTSE/ASE 20 Index of the country’s biggest companies dropped 1.6 percent to 701, while the Cypriot General Index gained 0.2 percent to 1,127.91.

The following stocks are among the most active in Athens trading today. Symbols are in parentheses.

Ellaktor SA (ELLAKTOR GA) fell 1.1 percent to 3.46 euros, paring a 2 percent rise the previous day. Greece’s biggest builder had its share price estimate lowered to 6.50 euros from 7.40 euros at HSBC Holdings Plc.

Hellenic Telecommunications Organization SA (HTO GA) dropped 3.9 percent to 6.60 euros, snapping a five day advance. The Greek unit of Deutsche Telekom AG predicts the local economy will deteriorate next year because of the government’s austerity measures, Michael Tsamaz, the company’s new chief executive officer, said at a Morgan Stanley conference in Barcelona, Spain.

Jumbo SA (BELA GA) declined for a second day this week, losing 1.3 percent to 5.32 euros. Citigroup Inc. maintained its “hold” rating on Greece’s biggest toy and baby products retailer on “short-term headwinds.”

Marfin Popular Bank Pcl (MARFB GA) advanced 1.7 percent to 1.20 euros. Dubai Financial Group, the biggest shareholder in Cyprus’s second-biggest bank, plans to participate in the lender’s share capital increase and convertible capital securities issue which was approved by shareholders yesterday.

To contact the reporter on this story: Natalie Weeks in Athens nweeks2@bloomberg.net.

To contact the editor responsible for this story: Angela Cullen at acullen8@bloomberg.net.

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