STOCKS

ATHEX: Blizzard hits local stock market too

ATHEX: Blizzard hits local stock market too

Athinon Avenue suffered major losses on Monday, with the picture on the stock board matching the terrible weather outside. The local market lost almost 3.2 billion euros in capitalization in a single day, following losses of almost €2 billion on Friday. The international climate concerning the likelihood of war in Ukraine and the Fed meeting starting today has affected local traders too.

The Athens Exchange (ATHEX) general index closed at 914.84 points, shedding 2.93% from Friday’s 942.46 points. The large-cap FTSE-25 index contracted 3.14%, ending at 2,205.94 points.

The banks index shrank 4.01%, as National dropped 5.66%, Alpha slumped 4.65%, Piraeus conceded 2.69% and Eurobank parted with 2.66%.

Jumbo declined 5.33%, Coca-Cola HBC shied 3.71%, Mytilineos lost 3.64%, ElvalHalcor fell 3.57%, Motor Oil slid 3.33%, Lamda Development diminished 3.13% and Aegean Airlines gave up 3.11%.

In total 12 stocks reported gains, 102 sustained losses and eight remained unchanged.

Turnover amounted to €90.9 million, down from last Friday’s €101.8 million.

In Nicosia, the general index of the Cyprus Stock Exchange increased 0.25% to 69.19 points.