Pages

Tuesday, January 27, 2015

Athens Exchange 6 Points Down After Announcement of New Greek Gov’t

The Athens Stock Exchange took a big plunge today immediately after the announcement of the new Greek cabinet. At 3:35 p.m. today, immediately after the announcement of the new SYRIZA-Independent Greeks coalition cabinet, the Index declined more than 6 percent under 770 points. At 4 p.m., the situation improved with losses a little over 5 percentage points and turnover at relatively high levels. Bank shares have received the most pressure. The banking index reached a new 52-week low with losses of over 15 percent. According to a comment made by a Beta Securities broker this morning, the reason bank shares received a big blow is the possibility that the new government will replace the administrations of all major Greek banks. The largest shareholder of major Greek banks is the Financial Stability Fund.


READ THE ORIGINAL POST AT greece.greekreporter.com