The rapid political developments have serious impact on the board of the Athens Stock Exchange. The desertion of MP Giorgos Lianis triggered escalation of intraparty pressures on the government and emerging parliamentary impasse, amid unprecedented unrest in the city centre.
Transactions opened in negative territory in a climate of intense uncertainty, with the General Index posting intraday losses of 4.26% at 1,212.95 units, a new 14-year low.
Pressures exerted on Greek banks had been even heavier, resulting in an intraday drop of 6.83%, while Greek bond spreads and CDS recorded new highs. National Bank has been under severe pressure, sliding by 5.97%, at €4.57, with intraday losses of 9.26% at €4.41.
European dissidence over the issue of participation of private investors in Greek debt adjustment and uncertainty about voting of the medium-term program are expected to encumber decision-making next week, according to Merit Securities.
The proposal of opposition party leader to Greek PM for a unity government allowed domestic market to trim losses. The General Index ended at 1,243.05 units, with losses of 1.88%, while approximately 41.57 million units worth €120.74m were traded on Wednesday. A total amount of 109 shares declines, 149 remained unchanged and 22 rose.
Alpha Bank topped FTSE20, with profits of 2.52% at session’s high, while Jumbo and Coca Cola 3E ended in positive territory, with gains of 1.96% and 0.44% respectively.
On the other hand, MIG fell by 6.35% at €0.9, while Ellaktor and ATEbank dropped by 5.96% and 3.45% respectively.
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