The Impact of International Elections on the Greek Stock Market
The recent French election results brought relief to investors as they avoided the possibility of a far-right government. This positive sentiment was reflected in the Greek stock market, where the benchmark reached a four-week high on Monday. However, concerns about political instability in France and the US could lead to a turbulent stock market after the summer break.
Stock Market Performance
The Athens Exchange (ATHEX) general index closed at 1,450.92 points, marking a 0.72% increase from Friday’s close. The FTSE-25 index, which tracks large-cap stocks, also rose by 0.66%, ending the day at 3,540.22 points.
Among individual stocks, banks showed mixed performance, with Piraeus and Alpha recording gains of 1.69% and 1.50% respectively, while National and Eurobank saw slight declines. Titan Cement and OTE telecom were among the top gainers, with increases of 3.81% and 1.92% respectively, while Terna Energy experienced a drop of 1.79%.
Overall, 55 stocks recorded gains, 32 posted losses, and 35 remained unchanged. Turnover for the day amounted to 113.9 million euros, showing an increase compared to the previous Friday.
Stock Exchange Update in Nicosia
The Cyprus Stock Exchange in Nicosia experienced a slight decrease, with the general index falling by 0.42% to close at 162.17 points. This shift in the market resulted in a total trading volume of €55.3 million.
