Athens Stock Exchange Plummets: 9% Losses Due to Middle East Tensions

The Athens Stock Exchange experienced a significant drop, with losses of 9% in two days, due to geopolitical tensions in the Middle East and rising oil prices.

The General Index fell by 5.75% on Tuesday (March 3), closing at 2,074.42 points, marking the worst daily performance in the last 11 months. Market capitalization decreased by 14 billion euros in two days.

Concerns about a prolonged conflict in the Middle East led to capital outflows from mutual funds, while rising oil prices worsened the situation.

Optima Bank announced its annual results, while Cenergy, Lamda Development and CrediaBank are expected to publish their financial results in the coming days. DBRS will give its assessment of the Greek economy on Friday, March 6.

Despite initial resistance, Wall Street and European stock exchanges followed a downward trend, with the pan-European Stoxx 600 falling by 3.4%.