STOCKS

ATHEX: Stock drop is spelled with an Omicron

athex-stock-drop-is-spelled-with-an-omicron

The soaring of the Omicron variant of the coronavirus, along with the tightening of fiscal policy by central banks, led to a significant decline for most bourses on Monday; stocks at Athinon Avenue suffered significant losses at the start of the session, but these were contained as the day went along. As things stand, it appears unlikely Santa will come for the local stock market this Christmas.

The Athens Exchange (ATHEX) general index closed at 876.93 points, shedding 1.19% from Friday’s 887.50 points. The large-cap FTSE-25 index contracted 1.30%, ending at 2,101.04 points, though mid-caps slipped just 0.10%.

The banks index fell 1.38%, as National lost 2.18%, Alpha parted with 1.15%, Eurobank conceded 1.11% and Piraeus gave up 1.07%. EYDAP eased 2.95%, PPC lost 2.79% and Coca-Cola HBC retreated 2.66%. Lamda Development advanced 1.37%.

In total 27 stocks made gains, 73 sustained losses and 16 remained unchanged.

Turnover amounted to 41.9 million euros, just over half of last Friday’s €82.4 million.

In Nicosia, the general index of the Cyprus Stock Exchange decreased 0.63% to close at 66.37 points.