The profit-taking process that started late last week on the Greek stock market accelerated on Monday, with international fears of an out-and-out trade war growing by the day. Bank stocks bore most of the pressure, with their index losing almost 5% in one session, while the benchmark shrank nearly 3%, dropping well below the 1,700-point mark. Even so, on a monthly basis the main index on Athinon Avenue advanced 4.82% in March, for its fifth consecutive month of growth.
The Athens Exchange (ATHEX) general index closed at 1,685.24 points, shedding 2.91% from Friday’s 1,735.68 points. The large-cap FTSE-25 index contracted 3.45%, ending at 4,148.45 points.
The banks index fell 4.71%, as Piraeus dropped 6.52%, Alpha eased 5.98%, Eurobank parted with 3.93%, National gave up 3.57% and Optima lost 2.78%.
In total 13 stocks secured gains, 98 endured losses and 13 remained unchanged.
Turnover amounted to 264.6 million euros, up from last Friday’s €196.3 million.
In Nicosia, the general index of the Cyprus Stock Exchange decreased 0.93% to close at 236.29 points. The Cypriot bourse will remain closed on Tuesday due to a national holiday.