Greek stock market loses 20% in one week

19 November 2018
749 Views

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.

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