ECONOMY

FTSE to keep Greek securities in indices for now

ftse-to-keep-greek-securities-in-indices-for-now

FTSE Russell  has decided to retain Greek securities in its FTSE Indexes for another 10 business days to see if the Athens Stock Exchange reopens, the firm said in a notice on Friday.

Under the firm’s policy, if a stock market has been closed for 20 local business days, FTSE has to consider whether the affected securities should be removed from the indexes or alternatively whether the securities should continue to be included at their last traded price for a period of up to a further 10 local business days.

The Athens Stock Exchange has been shut since June 26.

“In the light of expectations that an announcement regarding the potential re-opening of the Athens Stock Exchange will be made in the next few days, FTSE has determined to retain Greek securities in FTSE global indexes for a period of up to a further 10 local business days,” the firm said in its notice.

If the exchange has not reopened after 10 business days, the firm will re-evaluate the decision to keep Greek securities in the indices.

[Reuters]