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Athens Stock Exchange Plunges 15% After Brexit Announcement

xaa708_166The Athens stock exchange plunged 15% after the announcement of the British referendum results in favor of the Brexit on Friday morning.
Greece’s bourse followed the international downward trend caused by the Brexit. The Athens stock exchange, along with European markets, in previous sessions had stake in Britain’s stay in the European Union.
The sell-off in global markets prevails in the domestic market with bank shares receiving a massive blow. Bank shares opened at limit down. Piraeus Bank and Eurobank dropped by 30% to 0.175 euros and 0.616 euros respectively, National Bank at -29.82% at 0.193 euros and Alpha Bank at -29.66% to 1.66 euros.
Record losses were recorded for Viohalco (-18,52% to 1.10 euros), PPC (-15.65% to 2.48 euros) and EYDAP (-14.69% to EUR 5.13) .
The Index at 10:45 was standing at 527.53 points recording a drop of 14.60%, with the value of transactions at 10.45 milion euros.
The blue chip index has been falling at a rate of 19.93%, while the midcap index is declining at a rate of 12.04%.

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