Stocks resume decline, end 0.85% lower
The Athens Stock Exchange resumed its decline Thursday after a two-session rebound from Monday’s mini-crash.
In this, it followed global markets, as investors wonder whether the stock sell-off will continue.
But good news from the US, in the form of better-than-expected unemployment figures, helped stem the fall a little before the ATHEX’s closing.
The general index closed at 1,382.46 points, down 0.85%, having declined up to 1.4% midsession. Blue chips declined 0.88%, mid-caps gained 0.22% and banks were down 0.62%. Turnover was €99.71 million.
Toy retailer Jumbo was the loss leader among blue chips, ending down 5.33%, followed by oil refiner Motor Oil (3.68%) and Athens International Airport (2.09%).
Betting company OPAP and metals group ElvalHalcor gained over 1%.
Monday’s global stock crash, which halted a months-long market rally, was a reminder that everything is possible in stock markets, said analyst Petros Steriotis. He said that the prevailing view among market professionals is that the savviest investors will see buying opportunities amidst the dive.
