Investors’ eyes on opening of ATHEX Monday

Brokers fear a drop of 20 per cent in share prices

Greek stock brokers are expressing their concern over the scheduled opening of the Athens Stock Market (ATHEX), Monday August 3, according to Reuters. Their fears are fuelled by the bleak state of the Greek economy combined with the uncertainty regarding the future. The stock market will open its doors after 5 weeks, and Greek brokers estimate there could be a drop of up to 20 per cent once the opening bell rings Monday. “The possibility of  seeing even a single stock price go up is zero”, says Takis Zamanis from Beta Securities. All eyes will be on the performance of the bank shares, as investors are expecting to see the impacts of the imminent recapitalisation.