Foreigners trim stock positions

Foreign investors reduced their holdings in Greek stocks last month to 46.8 percent of the market’s total capitalization, from 47.3 percent February, by withdrawing 73 million euros, according to data released yesterday. Foreign investors, who held 50.5 percent of the capitalization in March last year, have been cutting their exposure to Greece stocks as the crisis deepens across Europe and the Balkans. Hellenic Exchanges, the holding group that operates the Athens stock and derivatives exchanges, said in a statement that Greek investors had increased their positions in stocks to 52.2 percent of total stocks from 51.9 percent in the previous month. The bourse’s turnover in March was 12 percent higher than in February, totaling 2.37 billion euros, but more than 60 percent lower than in March last year. The Athens Exchange’s benchmark general index gained nearly 10 percent for the month of March, Hellenic Exchanges added.

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