Concerns about the Delta variant, the oil rate drop and inflationary pressure triggered a mini sell-off at the beginning of the week across most European stock markets. Athinon Avenue was no exception as its benchmark shrank by almost 4% in what was the biggest daily decline in almost nine months, with bank stocks bearing the brunt of the pressure.
The Athens Exchange (ATHEX) general index closed at 833.16 points, shedding 3.88% from Friday’s 866.81 points. The large-cap FTSE 25 index contracted 4.10% to end up at 1,995.96 points.
The banks index slumped 6.53%, with National losing 7.40%, Eurobank giving up 7.37%, Alpha falling 5.99% and Piraeus sliding 4.62%.
Viohalco parted with 6.85%, Lamda Development eased 4.82%, Ellaktor shed 4.61%, Hellenic Exchanges declined 4.50% and GEK Terna conceded 4.47%.
Just five stocks bucked the trend to post gains, 109 suffered losses and 10 remained unchanged.
Turnover amounted to 84.8 million euros, up from last Friday’s €37.7 million.
In Nicosia, the general index of the Cyprus Stock Exchange decreased 2.03% to close at 64.53 points.