Greek shares dropped over 8% on Monday after a sharp rise in coronavirus cases in neighboring Italy, analysts said. Monday’s session at Athens Stock Exchange concluded with a historic sell off and losses at -8.36%. Turn out was at 181.86 million euros.
“The country’s proximity to Italy has clearly triggered some concern,” Manos Hatzidakis, analyst at Athens-based Beta Securities, told Reuters.
“Fears related to the coronavirus in Italy are having an impact on Greek shares,” said another analyst, who declined to be named.
Greek stocks were not the only ones affected by the corona virus.
Thai stocks close more than 20% below their all-time high on coronavirus fears https://t.co/uixAiL7WEs
— Bloomberg (@business) February 24, 2020
Earlier on Monday, Italian authorities said that a sixth person has died from the virus. More than 200 cases have been reported in the north of the country.