ATHEX: China proves recent stock gains fragile

Financial and political concerns over China, given the popular reaction to the state’s zero-Covid policy, encouraged sellers in European bourses on Monday, with the Greek stock market suffering losses and closing at the day’s low, though its benchmark managed to remain well above the 900-point mark.

The Athens Exchange (ATHEX) general index closed at 907.06 points, shedding 1.15% from Friday’s 917.64 points. The large-cap FTSE-25 index contracted 1.26%, to end up at 2,205.38 points.

The banks index conceded 2.02%, as Piraeus fell 2.59%, Eurobank lost 2.19%, National gave up 1.83% and Alpha parted with 1.73%.

Among the other blue chips, Quest Holdings earned 1.99% and Motor Oil augmented 1.42%, as Public Power Corporation sank 3.10%, OTE telecom was down 2.47% and Sarantis declined 1.61%.

In total 29 stocks posted gains, 72 endured losses and 20 remained unchanged.

Turnover amounted to 41.8 million euros, down from last Friday’s €46.8 million.

In Nicosia, the general index of the Cyprus Stock Exchange increased 2.10%, to close at 86.70 points.