ATHEX: Global outlook sends local stocks lower
The ominous forecasts by the US Fed and the Bank of England, pointing to a recession in the West and feeding a further cycle of interest rate hikes, weighed heavily on global stocks on Thursday and led to snap losses at most European bourses – including Greece’s after weeks of significant gains. US politics will also play its part come next Tuesday, with the midterm elections.
The Athens Exchange (ATHEX) general index closed at 861.76 points, shedding 1.41% from Wednesday’s 874.04 points. The large-cap FTSE-25 index contracted 1.39%, to end at 2,092.64 points.
The banks index conceded 1.49%, as Piraeus gave up 2.48%, Alpha declined 2.36%, National parted with 1.03% and Eurobank was down 0.82%. Coca-Cola HBC slumped 3.23%, Public Power Corporation sank 2.99% and OTE lost 2.94%, while Sarantis advanced 1.92% and Ellaktor improved 1.30%.
In total 30 stocks secured gains, 72 suffered losses and 12 remained unchanged.
Turnover amounted to 47.5 million euros, up from Wednesday’s €43.5 million.
In Nicosia, the general index of the Cyprus Stock Exchange decreased 1.21% to close at 76.11 points.
