ATHEX: Bourse suffers selling spree

ATHEX: Bourse suffers selling spree

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.

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