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Athens Stock Exchange plunges despite Cyprus deal

Athens Stock Exchange experiences a bad day hours after the Cyprus bailout deal and the statements of Eurogroup head Jeroen Dijsselbloem that Cyprus rescue plan would be applied also to other eurozone economies.

As of 1 o’ clock noon Tuesday,  the General Index is down by 4.10% and below 900 units. Few hours earlier losses were at 5.o1% and 883.89 units.

The banking sector suffer losses of 5%, even though stocks trading of BOC and CPB have been suspended.

Banks in Cyprus remain closed for more than a week.

Signatures are expected on Piraeus Bank deal to purchase the Cypriot branches of Bank of Cyprus and Cyprus Popular Bank in Greece.

Even though the worst case scenario on Cyprus was averted, investors are anxious.

PS I could say: Dijsselbloem, the exterminator of stocks…

 

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