Bank shares crash in Athens stock market

3 October 2018
243 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

Lotto results: 22/05/2019
GREECE
shares19 views
GREECE
shares19 views

Lotto results: 22/05/2019

Panos - May 22, 2019

The winning numbers from the Lotto draw are as follows:

The 5 most beautiful places to walk in Athens
GREECE
shares585 views
GREECE
shares585 views

The 5 most beautiful places to walk in Athens

Panos - May 22, 2019

Sometimes, our daily routine prevents us from understanding and admiring the beauty that surrounds us. Stressful jobs, work or family…

Hellenic Navy received first modernised P-3B Orion maritime patrol aircraft
DEFENCE
shares31 views
DEFENCE
shares31 views

Hellenic Navy received first modernised P-3B Orion maritime patrol aircraft

Panos - May 22, 2019

The Lockheed P-3 Orion is a four-engine turboprop anti-submarine and maritime surveillance aircraft developed for the United States Navy and…

Leave a Comment

Your email address will not be published.