ECONOMY

Local bourse?s world record

With 22 sessions left until the end of the year, the Athens bourse is by far the stock market with the biggest losses in the world during the first 11 months of the year.

Never before has the Athens Exchange general index lost 53.22 percent of its value in 11 months as it has done this year. A distant second this year is the KASE Stock Index of Kazakhstan with losses of 35.84 percent, according to Bloomberg.

In the same period the capitalization of the market has shrank by 28.168 billion euros. To drop to just 11.57 percent of the country?s gross domestic product this year, that is expected to end 2011 at around 218 billion euros.

Ever since the financial crisis started in Greece three years ago, more than 19,000 jobs have been lost in the 265 companies listed in the local bourse.

The market will reopen on Monday after the weekend with the main index at 690.68 points.