Greek Stocks Face A New Troika Drama
The breakdown of negotiations between the troika and the Ministry of Finance forces ASE in new heavy losses, while Greek bond spreads and CDS hit new record.
After the dramatic negotiations that took place only a few months ago regarding the approval and disbursement of the fifth aid instalment, the Athens Stock Exchange is now experiencing a new drama.
The Greek government attributes the deviations from the objectives of fiscal adjustment to the deeper recession, while the troika criticizes Greece for revenue and expenditure shortfalls.
This tug of war weighs heavily on the Greek market, while the sentiment is already burdened by a lively week.
Market analysts comment that the market has returned to the levels prior to Alpha Bank-Eurobank deal, due to the fiscal uncertainties, while the PSI issue and the audit of loan portfolios by BlackRock burden the banking industry.
They also note that the development of Greece-troika negotiations would be the catalyst for the coming sessions, without ruling out the possibility of new 15-year lows. The course of turnover would be a critical feature, a figure that appears weak on Friday.
On the board, the General Index is at 898.62 units declining by 3.26%, with early losses of 4.34% at 888.57 units. The turnover is €21.9 million, while a total amount of 73 shares decline, 21 rise and 20 remain unchanged.
Similarly, banks trim early losses of 7.35% to 4.95% at 543.63 units.
(capital.gr)
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L'andamento alla Borsa di Atene.
Spread a 1634 pb.
