ECONOMY

ATHEX: Field day for sellers in stock market

athex-field-day-for-sellers-in-stock-market

The market’s focus on the sovereign bond issue left the field wide open for sellers on the local bourse – and they took full advantage of it. Stocks suffered significant losses, again led by the bank sector. It had been expected by many that stocks were set to fall in Athens and the rest of Europe, due to rising concerns over vaccine supplies.

The Athens Exchange (ATHEX) general index ended at 743.49 points, shedding 2.77% from Tuesday’s 764.70 points. The large-cap FTSE 25 index contracted 3.12% to close at 1,764 points.

The banks index dived 6.27%, with National slumping 8.23%, Alpha dropping 7.04%, Eurobank parting with 4.67% and Piraeus declining 4.12%.

Ellaktor jumped 3.87% following the appointment of new management, while Mytilineos gave up 4.76%, Aegean Airlines conceded 4.40% and OPAP gaming company lost 4.19%.

In total 15 headed higher, 98 reported losses and 15 remained unchanged.

Turnover amounted to 74.6 million euros, up from Tuesday’s €49.3 million.

In Nicosia, the general index of the Cyprus Stock Exchange decreased 2.15% to 55.04 points.