ATHEX: Bourse hits lowest point in 16 months

Sellers came back with a vengeance on Tuesday at Athinon Avenue, sending stocks sharply lower. The benchmark lost its grip on the 800-point level to drop to lows unseen since February 2021 after its ninth losing session in the last 10. A stop-loss move right at the end prevented an even worse decline.

The Athens Exchange (ATHEX) general index closed at 779.68 points, the lowest since February 24, 2021, shedding 3.21% from Monday’s 805.55 points. The large-cap FTSE-25 index contracted 3.83%, ending at 1,854.32 points.

The banks index sank 9%, as Eurobank nosedived 11.63%, Piraeus gave up 10.89%, Alpha dropped 9.35% and National conceded 4.48%.

Lamda Development fell 4.54%, ElvalHalcor lost 4.46% and Public Power Corporation parted with 4.13%, while Sarantis and Ellaktor stayed put.

In total 15 stocks reported gains, 90 took losses and 16 remained unchanged.

Turnover amounted to 80.9 million euros, up from Monday’s €39.7 million.

In Nicosia, the general index of the Cyprus Stock Exchange decreased 1.18% to close at 66.84 points.