The Athens Stock Exchange moved again with strong volatility, with an uptrend in the overall index reaching +1.34% and 1046 points in the opening hours of the session, falling into the void after a negative turn in European markets, while the expiration of derivatives contracts also contributed to the pressure. Banking stocks were once again at the center of liquidations. Investors continue to assess the image of the banking industry after the bailouts of First Republic Bank and Credit Suisse, while fears about the bankruptcy of another bank have not subsided.

The general index closed down by 1.14% to 1020.19 points, and the turnover amounted to 178.68 million euros. The Large Cap Index closed down 1.12% at 2477.76 points, the Mid Cap Index closed down 1.61% at 1465.64 points and the Banking Index shed 4.4% at 736.07 points.

The session started up 1.34%, but European markets turned AH into the red.

Of all the blue chips, Piraeus Bank, National Bank and Alfa Bank recorded a drop of more than 5%, followed by Ellactor, Motor Oil with losses of more than 3% and Eurobank with a drop of more than 2%. Sarantis excelled with a 3.72% increase, followed by Viohalko with +2.17% and Jumbo with +2.01%. Over the week, the general index fell by 3.41%, while the banking index fell by 7.22%.

The stock market closed with losses for the second week in a row, as well as in foreign markets, comments Manos Hatsidakis from Beta Securities. This time, toxic volatility abroad and fears about the banking industry in Europe and America were the reasons for the fall in quotes. Adapting to the violent increase in interest rates at the international level did not leave all banks unaffected and, despite the containment of side effects in the systemic part of the market, caused investors a new dimension of concern, which was expressed in risk reduction.