Bad day for the Greek govenrment, the Euro Zone and consquently for the Athens Stock Exchange. Monday’s session closed with the General Index at 566.79 point.
ASE sunk due to uncertainty
The General Index of Athens Stock Exchange lost 7% on Monday. The banking index dropped the most, while PPC, Alpha Bank, Eurobank and OTE lost more than 14%.
Yet again, traders are focusing on Spain after newspaper Expansion reports that Moody΄s Investors Service plans to announce a massive downgrade of Spanish banks ratings later Monday.
The downgrade of the government debt rating of Cyprus to junk status by Fitch weighs heavily on sentiment.
Also, market commentators are warning that the EU summit, which is scheduled to start Thursday, will likely be disheartening.
On the dashboard, the General Index closed down 6.84% at 566.79 points, moving throughout the course of trading in negative territory and record consecutive intraday low.
On Monday the trading volume reached 37.74 million units worth 41 million euros, while 28 shares rose, 94 declined and 153 remained unchanged.
The banking index dropped 14.63% to 211.72 points. From its composition, Hellenic Postbank declined 20.32% at 0.3530 euros, Piraeus closed at 0.2370 euros, down 12.55%. (Capital.gr)
What did anyone expect? The new puppet government is dead in the water even before Merkel attached the strings!
And the moronic Germans and others have decided that there is no urgent euro problem to discuss at their summit… LOL I guess they will be chatting about how to punish Syria and Iran for not following US and European orders.
We are being led by the most mentally deficient people in the history of Europe. Come back, Giorgaki, you will fit in well!