Greek stock market loses 20% in one week
The Greek stock market is plummeting, losing up to 20% in the past week. For the fourth day in a row, after it closed last Friday, bank shares dropped, with National Bank of Greece, Piraeus, and Eurobank having a capitalisation of less than 1billion euros combined.
The bank shares broke lost up to 8-9%, but by noon the fall had spiked.
Alpha bank lost 3.97%, while NBG fell by 5,86%. Eurobank dropped 2.06% to 0.4754 euros, while Piraeus Bank lost 5.27% to 0.97 euros.
The Athens General Index closed at 617.18 points, losing 1.36% while intraday losses stood at 2%. On a weekly basis, the losses surpassed 20%. The rapid liquidation was the result of a report by Wood that MSCI’s outflows would be higher, but the fall was a general trend in the including stocks which increased their indexing or remained in the Indexes of the MSCI.
You may be interested
PM Mitsotakis cites Greek Constitution to back mandatory vaccinationsmakis - Jul 23, 2021
Prime Minister Kyriakos Mitsotakis cited the Greek Constitution in response to those opposing mandatory Covid-19 vaccination during his meeting with…
Who Has Spent The Most Time In Space? (infographic)Panos - Jul 22, 2021
As Russia celebrates 60 years since Yuri Gagain became the first person to orbit the Earth, the state of space travel looks…
What Do Americans Think Of Famous Billionaires? (infographic)Panos - Jul 22, 2021
Hot on the heels of fellow billionaire Richard Branson, Amazon founder Jeff Bezos is set to blast into space. He…