ATHEX: Considerable drop in prices and turnover

Turnover nosedived at the Greek stock market on Monday, lowering the prices of most stocks in the local market in yet another session of losses for the benchmark at Athinon Avenue on the day the first draft budget of 2024 was submitted in Parliament. Observers are pinning their hopes for the reversal of the negative climate the corporate results of the first half have created on the Standard & Poor’s rating decision expected on October 20.

The Athens Exchange (ATHEX) general index closed at 1,191.77 points, shedding 1.45% from Friday’s 1,209.34 points. The large-cap FTSE-25 index contracted 1.74% to end at 2,882.30 points.

The banks index fell 2.13%, as Piraeus slumped 3.91%, National dropped 2.32%, Alpha gave up 2.15% and Eurobank slid 1.03%. Viohalco was down 3.02%, just as Sarantis expanded 0.82%. 

In total 31 stocks secured gains, 59 were dealt losses and 22 remained unchanged.

Turnover was the lowest of the last five months, amounting to 52 million euros, down from last Friday’s €72.7 million.

In Nicosia, the general index of the Cyprus Stock Exchange decreased 0.43% to close at 130.37 points.