ECONOMY

ATHEX: New strain sent stocks into nosedive

athex-new-strain-sent-stocks-into-nosedive

The imported worries about the impact of the new strain of the coronavirus, along with the impasse in the Brexit deal discussions, took a heavy toll on the local stock market too on Monday, although the benchmark almost halved the losses it had suffered mid-session. Tuesday’s reaction will be crucial as to the course of trade in this shorter week, showing whether the new strain was just a pretext for the price drop.

The Athens Exchange (ATHEX) general index ended at 769.62 points, shedding 3.80% from Friday’s 800.06 points. The large-cap FTSE 25 index contracted 4.06% to close at 1,838.08 points.

The banks index nosedived 6.39%, as Piraeus slumped 9.52%, Alpha parted with 8.07%, Eurobank gave up 5.32% and National ended 4.90% lower.

Coca-Cola HBC fell 5% and Motor Oil conceded 4.81%, but Sarantis earned 0.11%.

In total 11 stocks bucked the trend and posted gains, 105 declined and 13 remained unchanged.

Turnover amounted to 110.2 million euros, down from last Friday’s €112 million.

In Nicosia, the general index of the Cyprus Stock Exchange decreased 2.93% to close at 53.92 points.