The Athens Stock Exchange reacted strongly after politicians failed to form a government, nine days following an inconclusive vote, prolonging a political crisis that pushes it closer to bankruptcy and exit from the euro.
In view of the new elections – the result of which is expected to be just as ambiguous as the results of May 6 – the market continues to monitor political developments with concern.
On Tuesday, after it became known that the contacts at the Presidential Palace didn’t conclude in the formation of a new government, stocks “sunk” sharply. By that time, the market general index was climbing 2.02% and the banking index was up 6.76%. The transactions finally concluded at 562.88 points for the general index, down 3.62%. The banking index, which rebounded from its intraday – 10.21% decline, ended at 217.75 points, down 4.90%.
On the board, the trading volume reached 41.58 million units worth 43.43 million shares, while 90 finished in negative territory, 33 supported and 153 remained unchanged.
(source: capital)
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