STOCKS

ATHEX: Seven-month low for local bourse index

ATHEX: Seven-month low for local bourse index

The Greek bourse benchmark sank anew on Wednesday to a seven-month low as it failed to follow the recovery path taken by most other European stock markets. It has suffered losses in excess of 10% since the war broke out in Ukraine a week ago. The drop was somewhat contained toward the end of the session, with turnover up considerably compared to Tuesday.

The Athens Exchange (ATHEX) general index closed at 851.10 points, the lowest since mid-July 2021, shedding 1.66% from Tuesday’s 866.48 points. The large-cap FTSE-25 index contracted 1.84%, ending at 2,059.27 points.

The banks index conceded 3.12%, as Eurobank fell 4.83%, National dropped 4.73% and Alpha was down 1.54%, while Piraeus improved 0.23%.

Aegean Airlines parted with 6%, Coca-Cola HBC gave up 5.93% and Sarantis shrank 4.53%, but Jumbo jumped 4.46% and Ellaktor earned 1.22%.

In total 35 stocks reported gains, 73 sustained losses and 15 remained unchanged.

Turnover amounted to €175.8 million, up from Tuesday’s €107 million.

In Nicosia, the general index of the Cyprus Stock Exchange decreased 0.95% to 65.61 points.