The Greek stock market reacted to news of the first coronavirus case in Athens - plus a second in Thessaloniki - with a fresh selling spree on Saturday, closing the session on the day's low, which points to fresh losses on Friday. The cancellation of Carnival festivities around the country this weekend is also set to hurt local economies.
Tuesday's recovery proved short-lived for the Athens bourse, as the slump on Wall Street later on the same day and the discovery of the first case of coronavirus in Greece on Wednesday led Greek stocks to new six-month lows. The benchmark even dropped below the 800-point mark during yesterday's session, before containing its losses somewhat.
Greek stocks suffered heavy losses at the end of the week as they were affected by the very negative climate abroad regarding the impact of the coronavirus epidemic on the economy as well as the growing tension in northern Syria. This has taken the main index at Athinon Avenue below the 900-point mark, to a two-month low.
OTE telecom was the protagonist in Wednesday's bourse session following the issue of its 2019 financial results that showed a rise in profits, leading to 2.32 percent growth for its stock while accounting for over two-fifths of all of the day's trading. That helped the benchmark at Athinon Avenue record its first day of gains this week.