The stock market faced a downturn due to recent events in the Middle East and increased geopolitical tensions following Israel’s assault on Iran’s nuclear facilities. This escalation interrupted a series of positive trading sessions, yet it is reassuring to note that the DA was able to limit initial losses, concluding the session with only “controlled” losses. However, the approach of the EU/US trade deal deadline (September 7) adds another layer of concern for the markets.
During today’s trading, the General Index finished at 1,835.40 points, down 1.06%, reaching a high of 1,835.50 points and a low of 1,811.30 points. Total trading volume was 282.86 million euros.
The high-cap index saw a decline of 1.16%, while the mid-cap index decreased by 1.38%. The bank index slipped 1.09%, closing at 1,824.91 points.
Among bank shares, Alpha Bank experienced the most significant drop, falling 2.77% to 2.705 euros, followed by Piraeus Bank, which declined by 1.26% to 5.50 euros. Eurobank dropped 0.48% to 2.696 euros, and ETE fell 0.46% to 10.75 euros.
On the upside, ElvalHalcor (+2.50%), MIG (+1.88%), HELPE (+1.55%), and ORILINA (+1.29%) posted gains.
Conversely, losses were seen in Unibios (-4.76%), OPAP (-3.38%), Metlen (-1.10%), GEK TERNA (-0.40%), PPC (-0.86%), and Titan (-2.10%).
A total of 18 stocks rose, 91 stocks fell, and 12 stocks remained unchanged.
Internationally, both European markets and key indices on Wall Street experienced losses.
Markets had largely overlooked geopolitical risks over the past year, but recent developments are shifting sentiments. Oil prices had initially surged by as much as 13%, but this gain was tempered, with Brent crude currently at $72.96 per barrel, down 5.19%, and US crude at $71.61 per barrel, down 5.25%.
On the home front, today marks the AGM for Trade Estates and Interlife, along with the annual dividend payment to Alpha Trust Andromeda shareholders.
The share capital increase process for IDEAL Holdings, through a Public Offering of new ordinary shares, has also been completed with more than 2.5 times oversubscription.
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