STOCKS

ATHEX: Bourse has lost almost 10 bln euros since war broke out

ATHEX: Bourse has lost almost 10 bln euros since war broke out

The Greek stock market closed for the long weekend with more heavy losses, with developments in Ukraine appearing ever grimmer as the days pass. Since the outbreak of the war Athinon Avenue has lost some 10 billion euros of its capitalization, which is quite considerable for just seven sessions.

The Athens Exchange (ATHEX) general index closed on Friday at 821.74 points, shedding 3.85% from Thursday’s 854.62 points. On a weekly basis it declined a considerable 11.38%.

The large-cap FTSE-25 index contracted 4.11%, ending at 1,970.98 points, and the banks index slumped 6.68%.

National Bank shied 7.98%, Alpha fell 6.96%, Aegean Airlines gave up 6.54%, Titan Cement parted with 6.35% and Eurobank dropped 6.03%.

In total eight stocks showed gains, 103 endured losses and 11 remained unchanged.

Turnover amounted to €108.6 million, up from Thursday’s €86.1 million.

In Nicosia, the general index of the Cyprus Stock Exchange decreased 1.14% to close at 65.86 points.