ATHEX: Greek stocks take another big tumble
The apparent deterioration in the relationship between Athens and its lenders inflicted fresh losses on the local stock market on Monday as investors responded to the ominous atmosphere in the talks expected to resume at the Eurogroup meeting on Thursday.
At one point the Athens Exchange (ATHEX) general index fell as low as 717 points before ending up at 738.25 points, shedding 4.68 percent from Friday’s 774.46 points. The large-cap FTSE/ATHEX 25 index contracted 4.49 percent to close at 221.28 points.
Piraeus Bank led the decliners, giving up 12.17 percent, ahead of EYDAP (down 9.47 percent), Alpha Bank (9.03 percent) and Hellenic Exchanges (7.14 percent).
In total 25 stocks reported gains, 88 sustained losses and 12 closed unchanged.
Turnover amounted to 97.7 million euros, up from last Friday’s 84.4 million.
Notably, all stockbrokerages have now asked their clients to perform transactions in cash, with the few firms that had not previously done so informing their customers on Monday morning that the T+2 rule (order now, pay in two days’ time) will not apply for now due to the extraordinary situation in the economy.
