Stock prices on the Athens Stock Exchange were under strong pressure in the last session of the week.
The market at the Athens Stock Exchange fell to the levels of 1,020 units, under the weight of liquidations in banking shares.
The domestic stock market followed the negative climate that prevails in the European markets, with banking shares and especially the Deutsche Bank share being the target of liquidations.
The sharp increase in the cost of insurance against the default risk (CDS) of Deutsche Bank has caused concern in the markets. The General Price Index closed at 1,021.16 points, down 2.97%.
Intra-sessionally it recorded a lower price at 1,019.30 points (-3.15%).
On a weekly basis, the main stock market index recorded a slight increase of 0.10%, since the beginning of March it has declined by 9.57%, while since the beginning of 2023 it has strengthened to a percentage of 9.83%.
The value of transactions amounted to 93.95 million. euros, while 36,347,384 shares were traded. The large-cap index fell 3.44%, while the mid-cap index fell 1.96%.
All the shares closed with a fall and the biggest losses were recorded by the shares of Alpha Bank (-6.03%), National Bank (-5.97%), Eurobank (-5.71%), Piraeus (- 5.17%) and Jumbo (-4.26%).
Of the individual indices, only the Health index (+1.66%) saw an increase, while the biggest losses were recorded by the Banks (-5.78%), Personal Products (-3.92%) and Prime indices Materials (-3.30%).
The largest volume of transactions was presented by Alpha Bank and Eurobank, trading 13,351,944 and 7,804,231 shares, respectively.
The highest transaction value was recorded by Alpha Bank with 14.83 million. euros and the National with 12.51 million euro. 17 stocks moved up, 84 fell and 26 remained stable.
The biggest increase was recorded by the shares: Akritas +11.11% and Mouzakis +8.59%. The biggest drop was registered by the shares: Frigoglass -9.21% and Kecrops -7.86%.
The stocks in the large cap index closed as follows:
TITAN: 14.14000 -3.28%
ADMIE: 1.7100 -3.72%
ALPHA BANK: 1,0900 -6,03%
AEGEAN AIRLINES:7,0500 -1,95%
VIOHALCO: 4,0600 -3,68%
GEK TERNA: 11.0000 -2.83%
PPC: 7.7600 -1.40%
COCA COLA HBC:24,7200 -0,28%
ELLAKTOR: 2.1050 -1.41%
ELPE: 7.2800 -2.93%
ELVALHALCOR: 1,5500 -3,85%
NATIONAL: 4.3500 -5.97%
EYDAP: 6.6000 -1.49%
EUROBANK: 1.1900 -5.71%
STOCK QUEST: 4.9450 -0.50%
LAMDA DEVELOPMENT: 5,6500 -1,99%
MOTOR OIL: 22,1200 -3,24%
JUMBO: 18,6700 -4,26%
MYTILINEOS: 24.6600 -2.68%
PPA:19.0600 -1.55%
OPAP: 14.6000 -3.63%
OTE: 13.0900 -1.65%
PIRAEUS: 1.8800 -5.17%
SARANTIS: 6.4500 -2.57%
TERNA ENERGY: 18.4000 -2.65%
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**Interview with Financial Analyst Dr. Elena Papadopoulos on Recent Developments in the Athens Stock Exchange**
**Editor:** Welcome, Dr. Papadopoulos. We appreciate you taking the time to discuss the recent downturn at the Athens Stock Exchange. Can you provide an overview of what occurred in the market last week?
**Dr. Papadopoulos:** Thank you for having me. Last week, the Athens Stock Exchange experienced significant pressure, dropping to around 1,020 points. This decline was largely driven by heavy selling in banking shares, particularly influenced by the negative turn in European markets. Deutsche Bank’s shares, in particular, faced considerable liquidation, adding to market concerns.
**Editor:** That’s quite concerning. Can you elaborate on what factors contributed to the selling pressure on Deutsche Bank shares?
**Dr. Papadopoulos:** Certainly. A key issue was the sharp rise in the cost of credit default swaps, or CDS, associated with Deutsche Bank. This surge indicates that investors are becoming increasingly worried about the bank’s ability to manage its risks, leading to a higher perceived likelihood of default. Consequently, this has created a ripple effect, negatively impacting sentiment across the European banking sector and, in turn, affecting European and Athens markets more broadly.
**Editor:** The General Price Index closed down nearly 3% for the session. Were there any silver linings amidst this decline?
**Dr. Papadopoulos:** Yes, it’s worth noting that while we saw a decline in the latest session, the index only recorded a slight weekly increase of 0.10%. Additionally, compared to early March, there has been a notable drop of 9.57%. However, since the beginning of the year, the Athens market has strengthened by approximately 9.83%. This suggests some underlying resilience, even amidst current challenges.
**Editor:** Looking ahead, what should investors be aware of in terms of market recovery?
**Dr. Papadopoulos:** Investors should be cautious but attentive. The current volatility is likely to persist until there’s greater stability with key players like Deutsche Bank and a resolution to the broader European market concerns. Keeping an eye on global economic indicators, along with developments in the banking sector, will be crucial. Diversifying portfolios and understanding the risks associated with market exposure during such times is essential for smart investing.
**Editor:** Thank you for your insights, Dr. Papadopoulos. It’s vital for investors to stay informed during these turbulent times.
**Dr. Papadopoulos:** My pleasure. Staying informed and adaptable is the key to navigating market fluctuations.