STOCKS

ATHEX: Benchmark sinks to new 4-month low

athex-benchmark-sinks-to-new-4-month-low

The Greek stock market experienced a Black Friday of its own, suffering its worst daily losses in almost 13 months, due to the global concern over the new coronavirus variant from southern Africa. Friday’s sell-off was also marked by higher turnover, despite the Thanksgiving holidays in the US, as most international markets headed lower on the day. Athinon Avenue saw the loss of about 3 billion euros of its capitalization.

The Athens Exchange (ATHEX) general index closed at 858.93 points, a new four-month low, shedding 4.45% from Thursday’s 898.97 points. On a weekly basis it declined 6.13%.

The large-cap FTSE 25 index contracted 4.61%, ending at 2,058.55 points, and the banks index was particularly hard hit, falling 6.41%. Alpha plunged 8.18%, Piraeus sank 7.90%, Eurobank slumped 5.01% and National dropped 4.80%. Aegean Air gave up 6.77% and Viohalco conceded 5.68%.

In total nine stocks posted gains, 110 endured losses and eight remained unchanged. Turnover amounted to 120.7 million euros, up from Thursday’s €37 million.

In Nicosia, the general index of the Cyprus Stock Exchange decreased 1.56% to 66.11 points.