Wednesday, August 5, 2015

CRUSH Greek Bank Shares Plunge for Third Day

Greek bank shares sold off sharply for the third day in a row on Wednesday.

The Athens bourse's banking index .FTATBNK ended 27 percent lower, bringing the three-day plunge since Monday's open to 63 percent.

Alpha Bank and Piraeus Bank both closed 29.6 percent lower, effectively at the 30 percent daily loss limit, reports Reuters. The former has 1.06 million shares on offer and the latter 2.8 million shares. There were no buyers for either.

Eurobank and National Bank, which also fell sharply, attracted buyers towards the close, ending down 26.7 and 24.3 percent, respectively.

Banks comprise about 20 percent of the main Athens index. The overall index fell only 2.5%.


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