Banking shares collapse in the ASE

National Bank Alpha Bank and Eurobank plummet by 10%

 

The “whipping” of bank shares in Athens leaves no room for thought and is associated with the PSI.  Shares dropped for National Bank, Alpha Bank and Eurobank (12%, 11%, 10% respectively) in the first session of this week.

The pressure on banking stocks occurs with a backdrop of Venizelos’ contacts with IIF head  Charles Dalara for “Greek PSI”, with the Finance Minister expressing the view that negotiations will be completed on January.

The General Index, by the time it lost the support of non-bank shares finally closed with a fall of 2.08% at 661.77 points, just 7 points higher than the previous lowest.

National’s share is at 1.59 euros, with a fall of 12.94%. Liquidations of 11% In Alpha Bank, over 10% in Eurobank and TT. 6.5% drop in Bank of Cyprus and 3.5% in Marfin Popular.

Counterweights to the fall was MIG’s rise by 3%, Folli-Follie Group 4%, OTE with 2.67% and OPAP rising 1.06%.

Total trade reached 32.6 million.

Frankfurt, Madrid and other markets are “seeing red”, losing 2.5%, Paris lost 2%, over 3% drop for Milan.

1.3% drop in “isolated” London’s market, 0.8% drop in the beginning of Dow Jones’ session.

The euro has dropped to $ 1.3250