Stock Markets March 2, 2026 10:55 AM

Athens market slips as banks, telecoms and household names lead losses

Athens General Composite posts 3.36% drop, with broad selling across the exchange; select energy and exchange stocks buck the trend

By Nina Shah

Greece's stock market closed lower on Monday, with the Athens General Composite falling 3.36% to a one-month low. Selling was concentrated in the Banking, Telecoms and Household sectors, and decliners vastly outnumbered advancers. A small group of names, including Motor Oil Hellas and HELLENiQ ENERGY, finished higher while several industrial and materials names posted double-digit percentage declines.

Athens market slips as banks, telecoms and household names lead losses

Key Points

  • Athens General Composite fell 3.36% to a one-month low, with broad selling across the exchange.
  • Banking, Telecoms and Household sectors were the main drivers of the decline; decliners outnumbered advancers 117 to 7.
  • Commodities moved higher—gold and crude rose—while EUR/USD weakened and the US Dollar Index Futures strengthened.

Greek equities ended the trading session in Athens on Monday with pronounced losses. The Athens General Composite dropped 3.36% to close at a new one-month low, reflecting broad weakness led by the Banking, Telecoms and Household sectors.

Market breadth was notably weak: falling issues outnumbered advancing ones by 117 to 7, and 6 stocks finished unchanged on the Athens Stock Exchange. The magnitude of the retreat pushed a number of individual listings sharply lower while a handful of names recorded gains.

Top performers

Among the winners, Motor Oil Hellas Corinth Refineries SA (AT:MORr) rose 1.31% or 0.48 points to finish at 37.16, reaching an all-time high in the session. HELLENiQ ENERGY Holdings SA (AT:HEPr) added 0.91% or 0.08 points to close at 8.90, and Hellenic Exchanges Athens Stock Exchange SA (AT:EXCr) was up 0.58% or 0.04 points at 6.89.

Largest decliners

The heaviest losses were recorded in several smaller and materials-oriented names. Ilyda SA Class R (AT:ILYr) led declines, sliding 9.68% or 0.45 points to 4.20 at the close. Alumil (AT:ALMr) fell 7.30% or 0.46 points to 5.84, while Elvalhalcor Hellenic Copper and Aluminium Industry SA (AT:ELHA) dropped 7.28% or 0.33 points to 4.20.

Commodities and currency moves

Commodities trading showed strength during the session. Gold futures for April delivery rose 1.86% or 97.65 to $5,345.55 a troy ounce. In energy markets, April crude oil climbed 6.61% or 4.43 to $71.45 a barrel, and the May Brent oil contract increased 7.74% or 5.64 to trade at $78.51 a barrel.

On the currency front, the euro lost ground against the dollar: EUR/USD fell 1.07% to 1.17. EUR/GBP was essentially flat, changing by 0.21% to 0.87. The US Dollar Index Futures advanced 1.08% to 98.62.


Takeaways and market context

The session’s losses were broad-based, with Banking, Telecoms and Household groups cited as primary drivers of the downturn. Despite the widespread selling, a small group of energy and exchange listings managed modest gains, and Motor Oil Hellas achieved an intraday milestone by moving to an all-time high. Overall market participation tilted heavily toward decliners, underscoring the weakness across sectors.

Given the data reported from the close of trade, investors saw increased commodity prices alongside a firmer dollar and a weaker euro, while Greek equities registered a pronounced pullback led by sector-specific pressure.

Risks

  • Broad sell-off across sectors increases downside risk for market-wide portfolios, particularly those with exposure to Greek banking and telecom stocks.
  • Commodity price volatility—rising gold and oil—may introduce earnings and input-cost uncertainty for energy and industrial firms.
  • Currency movements, including a weaker euro and stronger dollar, could affect exporters and firms with significant foreign-currency exposure.

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