August was a disastrous month for the Athens Stock Exchange (ASE) as the market lost 10.726 billion euros from its capitalization, while the composite index of the market plunged 23.9%. The banking sector was the weak link of the market, with the relative index losing 33.5% in the month, falling to levels seen in January 1993.
However, August recorded the highest daily percentage gain in ASE’s history, with the composite index of the market jumping 14.37% on August 29, boosted by news of a merger deal between Eurobank and Alpha Bank, Greece's second and third largest banks respectively.
The index ended the month at 915.98 points, down 23.9% from the previous month, for a net loss of 35.22% so far this year. ASE’s capitalization is down 16.778 billion euros in the January-August period. The Big Cap index fell 26.6% in August, while the Mid Cap index dropped 22.02% and the Small Cap index fell 22.6%.
AMNA
