Athens General Composite Slumps 2.02% on Broad-Based Sector Weakness

Greek equities finished Thursday's session sharply lower, with the benchmark Athens General Composite index declining by 2.02%. The sell-off was broad-based, driven by significant losses in the banking, telecommunications, and household goods sectors.

Widespread Losses Drive Market Lower

The Athens General Composite's decline reflected widespread negative sentiment among investors. According to closing data from the Athens Stock Exchange, selling pressure was evident across the market.

Decliners overwhelmingly outnumbered advancers by a margin of 90 to 20, with an additional 23 stocks ending the session unchanged. This market breadth indicates a comprehensive downturn rather than weakness isolated to a few large-cap names.

Sector and Stock Performance

Several companies saw significant declines, weighing heavily on the main index. The session's worst performers included:

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• Thessaloniki Water and Sewage Co SA (TWSr): -5.80%
• Elvalhalcor Hellenic Copper and Aluminium Industry SA (ELHA): -5.36%
• Plastika Thrakis Plastics Holdings SA (THRr): -4.33%

Despite the market-wide slump, a few stocks bucked the trend. Avax SA (AVAr) emerged as the top performer, gaining 3.95%. Notably, shares in Motor Oil Hellas Corinth Refineries SA (MORr) rose 2.30% to reach a new all-time high.

Global Commodity and Currency Moves

The decline in Athens occurred amid significant volatility in global commodity markets. Crude oil futures for September delivery surged, while precious metals retreated, with August Gold Futures falling 2.16%.

In currency markets, the EUR/USD pair was relatively stable. The US Dollar Index Futures, which measures the greenback against a basket of major currencies, advanced 0.40%.