Greek stocks nose­dive amid China jit­ters

Kathimerini English - - Front Page -

The Athens Stock Ex­change ex­pe­ri­enced one of its worst days in the last few years yesterday, when the gen­eral in­dex plum­meted 10.54 per­cent to land at 558.38 points.

The sud­den fall came amid con­cern about the im­pend­ing snap elec­tions but also due to the wors­en­ing global mood due to the eco­nomic down­turn in China. The pan-Euro­pean FTSEurofirst 300 was down 6.4 per­cent go­ing into the close of trad­ing, wip­ing off more than 500 bil­lion eu­ros from the in­dex’s to­tal mar­ket cap­i­tal­iza­tion and re­flect­ing its worst day since the post-Lehman Broth­ers col­lapse in Oc­to­ber 2008.

Chi­nese stocks plunged more than 8 per­cent yesterday for their big­gest one-day loss since 2007, af­ter Bei­jing held back ex­pected pol­icy sup­port at the week­end fol­low­ing last week’s 11 per­cent slide.

In Athens, banks led the down­ward slide with a dra­matic de­cline of 22.7 per­cent. Pi­raeus Bank was the worst per­former, giv­ing up 23.7 per­cent, fol­lowed by Al­pha Bank, down 21.7 per­cent.

Just one of the large-cap stocks man­aged to re­main un­changed, while the other 24 fell by as much as 26.5 per­cent.

Turnover reached 39 mil­lion eu­ros, which was marginally above the av­er­age for the last cou­ple of weeks, when trad­ing vol­umes have been thin.

Newspapers in English

Newspapers from Greece

© PressReader. All rights reserved.