Investors brace for further turmoil

Investors will be waiting this week to see how the global markets withstand the international financial and credit crisis, which has wiped 67 percent off the value of Greek stocks in the last year. On Friday, the Athens benchmark general index tumbled 9.7 percent to close at 1,728 points, after losing some 15 percent in mid-session trade. On the international scene this week, the US Federal Reserve is widely expected to cut interest rates sharply; corporate earnings reports will flow in and many investors will be looking to preparations for a global financial summit next month. Growing jitters about the impact that the worldwide slowdown will have on emerging economies is creating further pressure on Greek stocks, many of which have large exposure to countries such as Bulgaria and Turkey. In the domestic market, reporting on third-quarter results continues with Eurobank, Greece’s second-largest lender, scheduled to announce profit figures on Thursday.

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