Bank shares crash in Athens stock market

3 October 2018
129 Views

The Athens stock exchange is under pressure, as the value of bank shares have dropped. Piraeus Bank is plummeting losing 29% and stands at 1.161 Euros, while Eurobank has lost 17.3% and NBG 10.21%.

Alpha Bank managed to contain its losses to 4.267%, while the general index tumbled to 655 points, a 3% drop.

Investors are shorting on bank shares in fear of the possibility of the Greek banks requesting state support from the public capital fund of 30 billion.

It should be noted that the day after the gradual lifting of Capital Controls, it was announced that Piraeus had a three-month deadline to raise a 500 million euro bond loan – a development that was known beforehand.

Yesterday’s drop in the stock market (1.47%) and pressures on bank shares are mainly attributed to investors that have lost confidence in Greek banks and withdrawing their support.

You may be interested

Unemployment rate falls in 3rd quarter: ELSTAT
FINANCE
shares10 views
FINANCE
shares10 views

Unemployment rate falls in 3rd quarter: ELSTAT

Panos - Dec 14, 2018

The unemployment rate in Greece fell to 18.3% in the 3rd quarter of 2018, in comparison to 19% of the…

President Pavlopoulos at 75th Kalavryta Massacre Anniversary: Lest we forget
GREECE
shares7 views
GREECE
shares7 views

President Pavlopoulos at 75th Kalavryta Massacre Anniversary: Lest we forget

Panos - Dec 14, 2018

The President of the Hellenic Republic, Prokopis Pavlopoulos visited Kalavryta on Thursday on occasion of the 75th anniversary of the…

Weather forecast: Rain
GREECE
shares9 views
GREECE
shares9 views

Weather forecast: Rain

Panos - Dec 14, 2018

Rain and snowfall in the mountainous and semi-mountainous areas are forecast for Friday. Winds from variable directions will reach 6…

Leave a Comment

Your email address will not be published.