The Athens Stock Exchange (ATHEX) shed €12 billion from its nearly €110 billion market capitalization in just one week, largely impacted by domestic and international political turbulence.
According to analysts at OT.gr, the downward trend reflects an aversion to geopolitical risk among investors, despite strong balance sheets from key companies listed on the exchange and the ongoing growth of the Greek economy.
Specifically, the ATHEX peaked at 1,430 points on November 12, equating to nearly €110 billion in market capitalization, before reversing its trajectory. Over the past two trading sessions alone, the exchange lost €4 billion, bringing its total capitalization down to approximately €97 billion.
Key factors driving this decline include escalating developments in the Russia-Ukraine war and political turmoil within Greece’s ruling New Democracy party, which culminated in the expulsion of former Greek Prime Minister Adonis Samaras. These events have intensified investor uncertainty, pushing the market downward.
Historically, November has been a strong month for the ATHEX, making this year’s significant losses particularly notable.
