Shares in Athens suffered a severe hit on Monday, after six consecutive weeks of losses. Investors turned risk averse on elevated geopolitical risk, following clashes in Middle East. 

However, “Athens bourse tends to overreact to any bad news and mutes good news,” a broker said.   

Foreign investors were net sellers of Greek stocks for a sixth straight month in September, registering outflows of 61 million euros, the Athens Exchange said in a report on Monday. 

The general share index shed 2.3% to close at 1111 points. Turnover amounted to 204 million euros, of which 93.7 million euros concerned the HFSF’s transfer of 52 million shares to Eurobank. 

Banks were down 2.7%, with Alpha losing 3.8%, Piraeus -2.6%, Eurobank -2.5%. 

Away from financials, Cenergy lost 6.3%, Aegean -4.7%, OTE -2.9%.