It looks as if traders do not like neither the new Greek coalition government nor the new cabinet. For second consecutive day, Athens Stock Exchange felt the political pressure with traders trying to get read of their shares. On Tuesday, the losses started already half an hour after the session started, and losses plunged to -6.45% at 3.30 pm, when State Minister Nikos Pappas was announcing the names of the new cabinet.
Most probably, trader were expecting somebody like this to be appointed in the economy, finance or something…
Anyway, by the end of the session at 5:19 pm, the total losses were at -3.68% with the General Index at 683 units.
Banks had to suffer at the most, but we do not care so much as three of our four Greek systemic banks can received financial injection of Euroipean Central Bank in the context of the charity program Emergency Liquidity Assistance (ELA).