The surge of oil rates and the prospect of further deterioration in traffic through the Strait of Hormuz weighed on Greek stocks on Thursday, as the benchmark nosedived on increased turnover. The decline of stock prices gathered pace in the course of the session, in spite of the rise by oil-related companies. The closing auctions contained many stock drops, showing that the market may have bottomed out in this case.
The Euronext Athens (ATHEX) general index closed at 2,456.16 points, shedding 2.02% from Wednesday’s 2,506.79 points. The large-cap FTSE-25 index contracted 2.13% to end at 6,246.70 points.
The banks index conceded 2.49%, as Alpha parted with 3.28%, Optima lost 3.10%, Eurobank fell 3.01%, Piraeus shied 2.59%, Bank of Cyprus gave up 2.02%, CrediaBank diminished 1.94% and National slid 1.65%. Motor Oil rose 2.30%.
In total, 19 stocks reported gains, 86 sustained losses and 158 remained unchanged.
Turnover amounted to €410.3 million, up from Wednesday’s €282.2 million.
