Athens Stock Exchange Hits New Low and Losses at -3.15% tagged: , , , ,

Athens Stock Exchange Hits New Low and Losses at -3.15%

Posted by keeptalkinggreece in Economy

Athens Stock Exchange had a hard day today and plunged -3.15%. After moving between profits and losses it stuck at a historic low of  911 unit. Since the beginning of August ASE has lost some 20%. Where are my blue chips? At the bottom of the barrel…



Athens market is still trapped in a downward vortex, as it fails to follow the rising tempo of European stock exchanges for a second consecutive session.

The General Index has moved between profits and losses, but declined below 930 units, while Greek banks lose 2.1%. National Bank has lost €3.5 level with losses exceeding 2%.

The sharp decline during the last half hour of yesterday’s meeting, the new 14-year low for the General Index and poor trading volume are reflecting the sentiment of the domestic market these days, according to a Pegasus Securities report.

While today’s opening in the major European markets appear to be promising, the weak picture of the Greek market may halt any positive impact on the course of ASE, increasing reluctance and nervousness, Pegasus added.

It also noted that the industry that normally sets the tone in the market, banks, remain under pressure after speculation about the review of loan and bond portfolios by BlackRock.

On the board, the General Index falls by 1.45% at 927.11 units. The turnover stands at €16 million, while a total amount of 85 shares decline 25 rise and 19 remain unchanged.

Banks decline by 2.15% at 617.47 units, with only Bank of Cyprus in green (+0.91%). Hellenic Postbank falls by 4.70%, while Alpha Bank and Piraeus Bank post losses of 3.17% and 3.03% respectively.

source: Capital.gr