BUSINESS

ATHEX: Geopolitics rattles stocks in Athens

TAGS: Stocks

The new wave of Turkish provocations in the Eastern Mediterranean had a direct effect on the Greek stock market on Monday, with the benchmark diving from Friday’s three-week high pushed mainly by banks. This appears to be a week where geopolitical concerns will take precedence over the economy as far as investor mood is concerned.

The Athens Exchange (ATHEX) general index ended at 637.39 points, shedding 2.16% from Friday’s 648.56 points. The large-cap FTSE 25 index contracted 2.34% to close at 1,511.65 points.

The banks index slumped 5.40%, with National dropping 6.62%, Eurobank shrinking 6.03%, Alpha parting with 4.22% and Piraeus falling 3.88%.

Among other blue chips, Public Power Corporation slid 4.17%, Hellenic Exchanges conceded 4.11%, Viohalco gave up 3.89% and Ellaktor lost 3.86%, while Coca-Cola rose 0.23%.

In total 21 stocks reported gains, 76 endured losses and 18 remained unchanged.

Turnover amounted to €39.7 million, up from last Friday’s €36.6 million.

In Nicosia, the general index of the Cyprus Stock Exchange decreased 0.27% to 44.28 points.

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