Greek stocks plunge to two-year lows
Greek stocks plunged on Tuesday, pushing the general index of the market below the critical level of 600-point to its lowest closing since November 16, 2016. Bank shares remained at the focus of selling activity.
The general index dropped 3.91 pct to end at 593.05 points, losing 26.09 pct so far this year and 7.36 pct in November. The index is down 7.91 pct in the last five sessions. Analysts said that the next support level for the general index is between 580 and 550 points. The bank index is down 53.31 pct so far in 2018, losing 21.51 pct in the last five sessions. The four systemic banks’ capitalization fell to 3.96 billion euros, while the market’s capitalization is down 10.959 billion euros so far this year.
The Large Cap index fell 4.24 pct and the Mid Cap index fell 1.59 pct. Turnover was 49.959 million euros in volume of 28,521,084 shares. All blue chip stocks ended lower, led by Mytilineos (8.36 pct), Alpha Bank (7.92 pct), Jumbo (7.35 pct), OPAP (6.32 pct), Eurobank (5.97 pct) and Fourlis (5.56 pct). All sector indexes ended lower, led by Personal Products (6.68 pct), Industrial Products (6.56 pct) and Banks (6.34 pct).
Alpha Bank and Eurobank were the most heavily traded securities of the day. Broadly, decliners led advancers by 87 to 15 with another 22 issues unchanged. Progressive (14.04 pct), Tzirakian (10.50 pct) and Voyatzoglou Systems (9.38 pct) were top gainers, while Mathios (21.31 pct), Lavipharm (17.81 pct) and Epilektos (15 pct) were top losers.
Source: AMNA
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