Sell ​​off the stock market from the new African coronavirus mutation – Over 4% losses on the ATHEX

The sell off on the world stock exchanges but also on the Athens Stock Exchange is currently taking on transactional dimensions, which of course cannot absorb the big cracks caused by the new African coronavirus mutation, as it threatens to put the existing vaccines out of effectiveness and restore it. range of tough measures in all economies internationally.

In particular, the General Index records losses of 3.89% at 864.02 points, while the turnover is at 59.4 million euros and the volume at 28.8 million units. The FTSE 25 also fell 3.96% to 2,071.99 points, while the banking index lost 5.37% to 552.43 points.

The ATHEX has already reached (mid-hour) the turnover it makes on average in an entire session. And this element in itself comes to add to the assessment of how intense is the sell off that takes place not only in Athens Avenue, but also in the boulevards of international markets.

After all, the main narrative of the positive outlook for recovery from the pandemic crisis, which was nothing more than the assurance that measures like the first wave of the pandemic, which stopped the world economy for a quarter, will essentially collapse. It is now believed that the festive season, which is so important for many sectors of the economy, will be affected by the latest developments, while no one knows if there will be measures to limit the pandemic in the first quarter of the new year.

Cruise change by central banks?

What is pointed out, however, by its stock market sources Capital.gr, is that now what we expect is that the European Central Bank does not have so much pressure to tighten its policy, as the data will soon change, while it is not excluded that even the Federal Reserve will normalize the tightening rate it has already announced.

In any case, what investors should be aware of is both the response of front-line pharmacists to Covid and the response of fiscal and monetary authorities to the possibility of new austerity measures. Maybe in the next period we will see, of course, some on-hand reviews of analysts for the financial performance of the current and next quarter.

On the dashboard

On the board now, Piraeus records losses of 6.16%, with Aegean, Alpha Bank, Ethniki and ELHA following with a drop of more than 5%. Over 4% is the drop in Viohalko, OPAP, Lambda, Terna Energy, Eurobank, Ellactor, GEK Terna and Mytilineos.

The losses in PPC, Coca Cola, Motor Oil and Hellenic Petroleum exceed 3%, those of Jumbo, IPTO, EYDAP and HELEX 2% and those of OTE and PPA 1%. Sarantis is at -0.70%.

European stock markets trapped in deep red

The pan-European Stoxx 600 index plunged 2.7% to 468.78 points, having previously lost up to 3.6%. The travel and leisure industry plunged 6% after diving 7% earlier, as several countries announced a ban on flights from South Africa and other countries in the region. The European Union is preparing for a similar move.

Shares in the oil and gas sector are losing 5.2%, while the extractive crude is falling 3.5% as oil and commodity prices record large losses amid concerns of a further slowdown in the global economy due to the new downturn.

The German DAX fell 2.95% to 15,447.32 points, the French CAC-40 lost 3.7% to 6,812.85 points, while the British FTSE 100 fell 2.95% to 7,095.31 points.

In the periphery, the Italian FTSE MIB loses 3.2%, while the Spanish IBEX-35 drops 4%.