The combination of the European Central Bank policy tightening with the soaring US inflation data sent Greek stocks to a downward spiral on Friday in line with most other eurozone bourses.
The Athens Exchange (ATHEX) general index closed at 862.55 points, shedding 2.72% from Thursday’s 886.64 points. On a weekly basis it declined 3.83%.
The large-cap FTSE-25 index contracted 2.89%, ending at 2,078.74 points.
The banks index dropped 3.59%, as Alpha slumped 4.46%, Piraeus gave up 3.78%, Eurobank dropped 3.24% and National shrank 3.08%.
Mytilineos conceded 5.19%, PPC continued its freefall losing 4%, Jumbo shied 3.96%, Quest Holdings fell 3.81%, Terna Energy diminished 3.55%, GEK Terna eased 3.35% and Hellenic Petroleum parted with 3.27%, while Sarantis advanced 1.80%
In total 19 stocks posted gains, 90 endured losses and 11 remained unchanged.
Turnover amounted to 82.7 million euros, up from Thursday’s €58.8 million.
The Greek stock market will now reopen on Tuesday, after Monday’s Pentecost holiday.
In Nicosia, the general index of the Cyprus Stock Exchange decreased 1.27% to close at 70.93 points.