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Athens Stock Exchange records -6% losses in two-day sell off

The new markets- and business-friendly Greek government could not persuade of the effectiveness of its pre-election promises and the Athens Stock Exchange landed rough on the terrain of the Greek economic realities.

In just two days, the General Index recorded losses of -6%.

The session on Tuesday closed with -4.28% at 840.58 points – from 894 point on last Friday, two days before the elections on Sunday.

Turnover amounted to 103.9 million euros, volume to 50.7 million pieces, while 81 million pieces were transferred through pre-agreed operations.


In the two-day sell off on Monday and Tuesday, the General Index of the Athens Stock Exchange recorded losses of -6%,  the banks -12.1% and the FTSE 25 declined by 6.1%.

On Monday, the day Kyriakos Mitsotakis was sworn in Prime Minister of Greece, the Eurogroup and the European Commission sent a strong and tough message to the country’s new government.

During his election campaign, Mitsotakis had promised taxes cuts and renegotiation of the primary surpluses.

PS earlier today a Greek financial website had blamed “Tsipras’ legacy” for the ASE plunge.

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