ATHEX: Bourse’s new sell-off, on high turnover

ATHEX: Bourse’s new sell-off, on high turnover

The ebbs and flows continued on stock markets on Monday, with the Greek bourse suffering another sell-off at the start of the week. Concerns over a further escalation in Ukraine and a possible spillover in the region with unknown consequences for the European economy haunted traders yesterday and led Greek stocks into a steep decline, especially the credit sector.

The Athens Exchange (ATHEX) general index closed at 891.58 points, shedding 3.85% from Friday’s 927.25 points. The large-cap FTSE-25 index contracted 4.32%, ending at 2,160.52 points.

The banks index slumped 8.41%, as Eurobank sank 10.11%, National lost 8.84%, Alpha parted with 7.48% and Piraeus dropped 5.60%.

There were also major losses for Coca-Cola HBC (down 8.02%), Viohalco (5.08%), GEK Terna (4.92%), Ellaktor (4.59%), Mytilineos (4.46%) and ElvalHalcor (3.99%). OPAP rose 0.54% and EYDAP added 0.14%.

In total 10 stocks reported gains, 100 posted losses and 13 remained unchanged.

Turnover soared to €275.3 million, up from last Friday’s €122.8 million.

In Nicosia, the general index of the Cyprus Stock Exchange decreased 2.26% to close at 67.85 points.