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Greek Stocks Post Heavy Losses

The potential revision of Greece’s rating by Fitch jitters the Greek market on Monday, pushing the Banking Index lower by 4.1% and the General Index below the 1,450 level.
Analysts attribute the intensity of pressure to the negative sentiment created by Moody΄s warning on France’s rating and the comments of Pimco’s head of portfolio management in Munich, Andrew Bosomworth, that “Greece, Ireland and Portugal will not get back on their feet without a currency of their own, or without transfer payments.”
The Exchange closed at -3.22%, with the banking sector losing 5% on average.

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