Intercontinental International

Sellers regained the reins of the domestic market, as part of consolidating some of the gains from the two-day upward reaction on August 6-7, following the -6.27% “Black Monday” (August 5).

Uncontrollable “bleeding” in global markets, with Athens recording one of the largest percentage drops compared to other European stock exchanges. Most of this year’s gains were lost, with trading volume at high levels due to mass sell-offs.

On Monday (5/8), the General Index plunged by -7.37%, trading at 1,325.49 points, fluctuating between a low of 1,325.03 and a high of 1,428.01 points.

The current scenario reflects one of the most significant daily declines in recent years, comparable to February 24, 2022 (-6.42%) and March 23, 2020 (-7.58%). If the index falls below 1,300 points, it risks wiping out 2024’s gains.

Real estate investment companies (REICs) have posted a significant increase this year both in revenues and operating profits as a result of strengthening their portfolios with new assets and the increased value of their properties.

Listed real estate property investment company Intercontinental International on Monday announced the acquisition of a two-level retail property in Kolonaki, central Athens, with an objective value of 1.69 million euros.

The acquisition cost the company 550,000 euros, funded by its own capital.