STOCKS

ATHEX: Biggest loss for index in two years

ATHEX: Biggest loss for index in two years

Greek stocks predictably slumped on Thursday, in line with all other bourses the world over, as the Russian aggression in Ukraine has brought closer the prospect of divisions in global economy, sent energy rates soaring and investors scurrying to safer investment solutions such as precious metals. The benchmark at Athinon Avenue lost over 60 points and the market’s capitalization shrank by some 4 billion euros.

The Athens Exchange (ATHEX) general index closed at 888.31 points, shedding 6.42% – the biggest daily decline in almost two years – from Wednesday’s 949.22 points. The large-cap FTSE-25 index contracted 6.63%, ending at 2,165.12 points.

The banks index nosedived 8.88%, as Eurobank plummeted 10.80%, Piraeus sank 10.53%, Alpha fell 7.41% and National parted with 7.36%. Sarantis gave up 12.82% and Viohalco contracted 10.35%.

In total, 102 stocks took losses, six remained unchanged, and only one, Nakas, posted an increase, by 1.82%.

Turnover amounted to €162.3 million, up from Wednesday’s €70.4 million.

In Nicosia, the general index of the Cyprus Stock Exchange decreased 4.06% to close at 67.33 points.