Athens Stock Exchange opens with 2% losses

Pressure on banking shares continues

The Athens Stock Exchange opened with a 2% loss on Monday morning, amid the domestic banking pressures and foreign political volatility in Italy. The general index opened at 649 points, with Piraeus bank shares dropping by 7.45%, 6.88% for Eurobank, 2.85% loss for Alpha Bank at 1.194 euros.
Greece is under immense pressure and out of foreign markets, while in the midst of an international “storm” with a liquidity of EUR 24 billion, which it cannot use in any way as it will be seen as a negative sign after the end of the bailout programme.

The only positive thing amid the barrage of negative news is the low trading in non-bank shares – although last week pressure was also put on these stocks. The issue of guarantee and special scheme body is at the center of interest for Greek banks, but foreign investors stress that Greek banks need to continue their efforts.