Equity prices are recording a sharp drop after the conclusion of the third round of Presidential Elections and the Greek parliament’s failure to elect a President of the Republic. The country heads to national elections and the concern of the markets for a possible win of main opposition SYRIZA is reflected in the heavy losses recorded in ASE.

Shortly after 11.00 am on Monday on the Athens Stock Exchange, the basic price index was down by 7.3%, standing at 800 points.

More specifically, the FTSE/ASE Large Cap index for blue chip and heavily traded stocks was falling by 7%, and the FTSE/ASE Mid Cap index was falling by 6.9%.

The sharp decline since the opening of Athens Stock Exchange has foreshadowed the failure of the Greek government to elect a President of the Republic in the third and most crucial vote of the elections which took place today at noon.

Investors expect a long period of political uncertainty ahead, as the lead of main opposition SYRIZA party in the polls shows that they may win the next national elections, a prospect that raises concerns in Europe.