ATHEX: Deepest index dive in 3 months

Stocks at the Greek stock market nosedived the day after the general election, though the reasons for the biggest benchmark drop in the last three months are related to external factors: the worries about stability in Russia, following the Wagner mutiny last weekend, and the subdued mood across European markets made the early euphoria at Athinon Avenue evaporate, with stock sales gathering pace as the day went along.

The Athens Exchange (ATHEX) general index closed at 1,233.74 points, shedding 2.76% from Friday’s 1,268.71 points. The large-cap FTSE-25 index contracted 2.70% to end at 2,979.96 points.

The banks index fell 3%, as Alpha lost 4.43%, Piraeus shrank 3.88%, Eurobank conceded 2.68% and National parted with 1.35%. Motor Oil slumped 8.29%, ElvalHalcor dropped 5.76%, Ellaktor sank 5.76%, Aegean decreased 4.43%, Sarantis shied 4.33% and Viohalco gave up 4.17%.

In total 14 stocks secured gains, 95 recorded losses and 10 remained unchanged.

Turnover amounted to 143.8 million euros, up from last Friday’s €130.1 million.

In Nicosia, the general index of the Cyprus Stock Exchange increased 0.62% to 117.92 points.