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“Black” Monday for the Stock Exchange – Big losses for the banks

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“Μαyρη” Δευτe&rho ;αγοΧρημτιο- Μεγλσ απλεις τρπεζς /></p> <p><strong>The CSE recorded large losses during the first stock market meeting of the week, following the negative climate in the international markets.</strong></p> <p>The tension in the Middle East caused investment risk aversion in the markets. All major European <strong>Stock markets</strong> “opened” with heavy losses, with financial services sectors being the hardest hit.</p> <p>Volatility also spread to Asian and European markets, with US indices also falling sharply overnight. U.S. stocks plunged Monday morning as Friday's dismal July jobs report continued to fuel fears the U.S. economy is in turmoil.</p> <p>The Dow fell 1,072 points, or 2.7%. The S&P 500 fell 4.1% and the Nasdaq Composite sank 6.3%.</p> <p>The Cboe volatility index, or VIX, which measures bets on expected stock market volatility, jumped to 55. The last time the index reached this level outside of the pandemic was the Great Depression in 2008.</p> <p>This comes after the Dow on Friday fell more than 900 points at session lows.</p> <p> > </p> <p>Japanese stocks suffered their biggest daily loss on Monday as fears of a US economic slowdown sent shockwaves through global markets.</p> <p><strong>Loses 7% in Athens – In the midst of a sell off< /strong></p> <p>The Athens Stock Exchange is also in the midst of the global sell-off, with share prices registering a free fall, leading the market to levels of 1,330 units.</p> <p>The Athens Stock Exchange is following the “sell-off” of shares in the international markets, which are retreating amid concerns about a possible recession in the American economy.</p> <p>The General Price Index at 4:40 p.m. stands at 1,330.57 points, marking losses of 7.01%.</p> <p>The value of transactions amounts to 182.45 million. euros.</p> <p>The large-cap index is down 7.41%, while the mid-cap index is down 7.30%.</p> <p>High capitalization shares are moving downwards and the largest decline is recorded by the shares of Piraeus (-10.19%), Eurobank (-10.11%), Aegean (-8.97%), Viohalco (-8.74 %) and Alpha Bank (-8.07%).</p> <p>Only 3 shares are moving up, 125 are down and 9 remain stable.</p> <p>The shares are up: Medicon +2, 99%, HELBE +0.94% and Moda Bango +0.29%.</p> <p>The biggest fall is recorded by the shares: Intertek -13.01% and Q&R -11.79%.</p> <p> p> </p> <p><strong>CNNi: “It was a crash – It was reminiscent of 1987”</strong></p> <p>Neil Newman, chief strategist at Astris Advisory in Tokyo, said: “It was a crash. It was reminiscent of 1987,” he told CNNi. He was referring to “Black Monday” in October 1987, when global markets plunged and the Nikkei lost 3,836 points.</p> <p>Fears of a sharp slowdown in the US economy have raised expectations that the Federal Reserve will have to cut interest rates. As the Bank of Japan (BOJ) raises interest rates to curb inflation, it strengthens the yen against the US dollar and makes export-dependent Japanese stocks less attractive.</p> <p>Trading were briefly halted in Japan and South Korea by the stock market's automated system to limit volatility.</p> <p><strong>Global disaster</strong></p> <p>The European benchmark Stoxx Europe 600 fell 2.5% in morning trading. It has fallen 6% over the past five days to lows last seen in February.</p> <p>Germany's DAX down -2.3%, France's CAC 40 down -2.1%, Britain's FTSE 100 down -2.25%, Italy's FTSE MIB at -2.9%.</p> <p>The broader Topix index lost 10.49% to 2,271.33 points, while in Taiwan the Taiex index was down 8.43% to 19,813.83 points at around 13:19 (local time, 08:19 Greek time) as the Microprocessor giant TSMC lost 9.52%, while the KOSPI in Seoul was down 8.09% at 2,459.81.</p> <p>The dollar was down 2.2% against the Japanese yen to 143.10 yen, while the euro against the Japanese currency fell 1.9% to 156.35 yen. The exchange rate of the euro remained stable against the dollar at 1.0934 dollars.</p> <p><strong>Cyprus: Loss for banks</strong></p> <p>The General Index of the CSE closed at 160 .68 points, down 6.86%.</p> <p>The FTSE/CySE 20 Index closed at 97.77 points, down 6.92%.</p> <p>The share of Bank of Cyprus closed today at €3.85, with a drop of 8.11%, while the turnover amounted to €479.5 thousand. The bank announced today that it proceeded on August 2nd to acquire 8 thousand of its own shares on the LSE with an average price of £3.46 and 6100 on the CSE with an average price of €4.19.</p> <p>DEM shares closed today at €1.19, with losses of 6.3% and a volume of € 256.2 thousand and LOG at €3 and -5.06% with a turnover of €87.6 thousand. The company announced that it is meeting on September 3, 2024 for the half-year results of 2024.</p> <p>The Hellenic's share closed at €2.69, with losses of 9.43% and a volume of €208.2 thousand. The bank announced today that the non-executive vice-chairman of the Board of Directors, Christos Themistokleous, has resigned.</p> <p>As regards corporate developments, XAK announced that it has terminated the maintenance of the registers of the securities of the unlisted issuer Vilanor Holdings Ltd/Class A and B.</p> <p>The daily trading volume reached €1.2 million</p> <p> source : CNN Greece,<em> With information from CNNi/</em>Stockwatch<br /> <noindex></p> <div class=Source: 24h.com.cy

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