Greek stocks fell sharply on Tuesday extending yesterday’s losses as profit taking continued.
Banks led the decline shedding 6.3% while the General Index fell below 1,240.
“After the euphoria of the past few days, reality is beginning to set in” a local research director told Dow Jones Newswires.
“Details about the bond swap are emerging and investors are realizing the banks are going to take a hit” he said, adding that “Greece still has a lot to do to implement its fiscal program”.
In the FTSE20 index, shares of Hellenic Telecom and PPC were the only ones in positive territory, posting 0.84% and 0.75% gains respectively. Jumbo and Viohalco ended unchanged.
In negative territory, ATEBank and Marfin Popular Bank fell 11.24% and 8.47% followed by Eurobank (-7.84%), Alpha Bank (-7,69%) and Bank of Cyprus (-7,57%). Bank of Piraeus lost 6.00% at 0.94 euro, Hellenic Postbank fell 5.36% while shares of National Bank of Greece shed 4.69% at 4.88 euro.
Athens General Index fell 2.82% at 1,233.22, while turnover shaped at 75.38 million euro.
A total of 99 stocks ended with losses, 34 moved higher and 147 remained unchanged.
CAPITAL
