ATHENS: AS Greece stocks were down 4.5% in early trade today, dragged down by another near 30% plunge in banking stocks, a day after sustaining record losses when the bourse opened following a five-week shut down.
The main Athens index lost 16.2% yesterday, the worst fall on record, as investors reacted to continuing questions about a new bailout from the European Union and to Greece’s worsening economy. All four major Greek banking stocks were down more than 29% in early trade, effectively their daily limit for losses.
Greek stocks have lost 85 percent of their value since 2007. The nation’s benchmark gauge closed at its lowest level since September 2012 on Monday.
