Greek stocks recorded major losses on Monday as the local market continued to slide for an eighth trading day in a row after the week started with more volatility than expected and declining international markets weighed on their Athens counterpart. A rebound is due, although the upcoming Easter holidays will likely contain any risk taking.
The Athens Exchange general index closed at 1,207.82 points – the lowest since January 31 – shedding 3.44 percent from Friday’s 1,250.80 points. The benchmark’s total decline in those eight southbound sessions adds up to 10.73 percent, leaving gains since the start of the year at just 3.88 percent.
The large-cap FTSE/ATHEX 25 contracted 3.35 percent to 389.02 points, although small-caps put up greater resistance to the pressures, giving up 1.09 percent.
National Bank dominated with a 12.13 percent fall, while Marfin Investment Group fell 6.61 percent and Motor Oil dropped 6.15 percent. Coca-Cola HBC expanded 0.90 percent.
In total, 32 stocks registered gains, 97 sustained losses and 17 remained unchanged.
Turnover amounted to 136.1 million euros, almost on a par with last Friday’s 136.3 million.