ECONOMY

ATHEX: Sell-off sees stock index drop to fresh four-year low

athex-sell-off-sees-stock-index-drop-to-fresh-four-year-low

Another day, another sell-off on the Greek bourse, whose benchmark slipped below the 500-point level on Monday on reduced turnover.

The Athens Exchange (ATHEX) general index ended at 484.40 points, a new 49-month low, shedding 12.24 percent from Friday’s 551.97 points. The large-cap FTSE 25 index slumped 13.89 percent to 1,194.86 points.

Τhe banks index collapsed 16.09 percent, with National plummeting 20.61 percent, Alpha diving 18.30 percent, Piraeus tumbling 17.88 percent and Eurobank sinking 10.12 percent.

In total 10 stocks posted gains, 105 took losses and 15 stayed put.

Turnover was the lowest of the last 16 sessions, amounting to 63.3 million euros, down from last Friday’s 78.5 million.

The general index of the Cyprus Stock Exchange shrank 6.15 percent to close at 49.45 points.