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Greek Stocks Plummet Over 10% on Monday

Greek stocks nosedived 10.54% on Monday, with investors spooked by the losses in global markets, the slowdown in China and growing uncertainty over Greece’s snap elections. The composite index sunk below 600 points to its lowest level since June 25, 2012, while the banking sector was hit especially hard and total capitalization of Greece’s four systemic banks ended at just 3.123 billion euros.
The market’s composite index closed at 568.38 points, with a net loss of 31.20% so far this year, while the market’s total capitalization fell by 4.126 billion euros compared to Friday. Turnover was a very thin 39.047 million euros. The Large Cap index fell 12.77% and the Mid Cap index closed 7.12% lower.
All blue chip stocks suffered losses, with the heaviest losses recorded for Piraeus Bank (26.53%), National Bank of Greece (23.67%), Alpha Bank (21.74%), Eurobank (19.05%), PPC (17.91%), OTE (17.28%), Folli Follie (16.67%) and Ellaktor (16.15%). All market sectors moved lower, with the biggest losses recorded for Banks (22.67%), Telecoms (17.28%), Commerce (16.57%), Health (14.40%) and Construction (12.49%).
Broadly, decliners led advancers by 92 to 12 with another 11 issues unchanged. Dromeas (27.43%), Kathimerini (20.00%) and ANEK (18.88%) were the top gainers, while Piraeus Bank (26.53%), J&P Avax (25.64&), National Bank of Greece (23.67%) and Attica Bank (23.08%) were the top losers.
(Source: ana-mpa)

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