MSCI decision to downgrade shares of 3 Greek systemic banks drags down ATHEX banking index
MSCI’s decision, on Tuesday, to shift (as of Nov. 30, 2018) the shares of three Greek systemic banks – Piraeus, National and Eurobank – from its MSCI Standard Greece index to the MSCI Small Cap was crashing the banking index at the Athens Stock Exchange (ATHEX) during Wednesday’s trading.
Following the announced changes, only six shares of Greece-based shares – OTE, OPAP, Alpha Bank, Jumbo, Motor Oil and Titan – remained. Moreover, Ellaktor’s share was removed from the MSCI Small Cap index.
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