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Elections Paralyze Athens Stock Exchange

The Athens Stock Exchange suffered the largest daily loss since the beginning of the year after yesterday’s election results and while the first round of exploratory contacts seems to be driven into an impasse.
Trading began with strong pressure on the board with banks in the epicenter, recording a sharp drop over 20%.
The strong downward trend was accompanied by increased transaction volume of 40.92 million units and a turnover of 45.85 million, almost three times the average daily turnover of the previous weeks.
“The valuation of the election result is anything but a sense of political stability, adding to uncertainty and skepticism in the domestic market,” commented Beta Securities, adding, “The volatility returns in the Greek market.”
On the board, the General Index closed at 643.87 points, down 6.67%, having been 8.28% at 632.77 points earlier.
The banking index was declining up to 19.63% during the trading session ended with a 12.61% fall at 241.32 points.
(source: capital)

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