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> Economy

Athens Stock market down

Bank shares the main cause

Newsroom August 2 11:26

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The Athens Stock market continued its fall, as the general index stood at 562 points, a 1.14% drop. Even though European stock markets were rebounding, Athens was unaffected with shares continuing to drop, as banking stocks were in a free fall. Despite results of stress tests showing European banks were in some trouble, Greek banks had a high percentage of non-performing loans, even though they had better capitalisation compared to their European counterparts. Banking stocks drove the trading volume on the floor to 3.7ml Euros, with other blue chips like OLP of METKA offering little resistance for the index. Meanwhile, Greek banks remain without boards.

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