Athens Stock Exchange faces significant October sell-off

The Athens Stock Exchange is experiencing a sharp downturn in October, marking the end of a six-month winning streak. The General Index has fallen approximately 7.59% during the month, retreating from multi-year highs toward the 2,500-point psychological threshold.

Banking stocks have faced intense pressure, with the sector index dropping 15.32% this month. Major institutions including National Bank of Greece, Piraeus Bank, Alpha Bank, and Eurobank have all recorded substantial losses. High trading volumes were noted, particularly involving Eurobank due to large pre-agreed transactions related to the Eurolife deal.

The decline is attributed to a combination of domestic profit-taking following a period of euphoria and a challenging international environment. Investors are reacting to global economic uncertainties, including high oil prices and broader market volatility, which have outweighed domestic bullish catalysts.