Mar 13 • 08:44 UTC 🇬🇷 Greece Naftemporiki

Stock Market: Sellers Persist, Visibility Remains Low

Pressure continues in the Athens Stock Exchange as investors refrain from taking on more risk due to ongoing tensions in the Middle East.

The Athens Stock Exchange is under persistent selling pressure as investors are hesitant to take on additional risk amid the volatile situation in the Middle East. The price of Brent crude oil has risen above the psychological threshold of $100 per barrel despite attempts to increase supply, reigniting concerns about inflation's resurgence and high interest rates, which in turn is negatively affecting stock performance as reflected by recent sell-offs across Europe.

As a result of this environment, the General Index is down by 0.92%, settling at 2,110.69 points, losing approximately 20 points from Thursday's close at 2,130.37. Daily fluctuations have been noted to be in a range of 11 points (from 2,105.33 to 2,116.42), with trading volume averaging around €8.5 million. Such market conditions are making investors wary, affecting overall confidence and leading to further declines in stock values.

On the stock board, significant declines are observed among major institutions, with Eurobank and Alpha Bank dropping by as much as 2%, and other stocks like Public Power Corporation (PPC) and Aegean Airlines showing losses greater than 1%. The overall sentiment in the market suggests a cautious stance among investors, who are likely weighing international developments and their potential impact on domestic economic conditions.

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