01/09/2015 13:58
After the drama which occurred in the Greek stock market in August, with banking stocks recording unprecedented losses, the market shows a negative start in September.
Athex, amid the political turmoil and the campaign for the elections - the second in seven months - follows global markets which are moving lower due to the release of new negative data and the resurgence of concerns about the Chinese economy.
August posted a record high in terms of a daily decline on the general index of the Athens Stock Exchange (-16.23% on 3/8), while banking stocks fell to record low levels.
Since the beginning of the year, the general index lost 24.45% and the banking index lost 78.37%.
As regards the eight months period, the total capitalization of ASE has been reduced by € 16,9 bn.
August was the second consecutive negative month (after June 2015) as it scrapped 21.73% off the general index and 68.43% off the banking index.
At this hour ASE is falling by 1.09% at 617.38 points while FTSE is falling by 1.31% to 180.32 points.
The banking index is recording a decline of 3.08%.
In Athens, the negative sentiment is not so much due to the problems of the Chinese economy, as to the political instability and uncertainty that prevails in the country, causing concerns about delays in implementing the new bailout program, its assessment and the disbursement of the agreed amounts of funding.
From August 20, when Alexis Tsipras announced the resignation of the government by launching early elections, there was a greater outflow of deposits and an absence of new inflows, which resulted to the liquidity of banks falling to €800 mn against €1.1 bn before.
Tomorrow the european central bankers meet in Frankfurt as in the last days they have paved the way for the possibility of ECB proceeding to the expansion of the QE program either by increasing monthly purchases of debt securities or by extending its duration beyond September 2016.
Today the international markets face another difficult day as Chinese concerns make their return. New data confirm the slowdown of the Chinese economy and reinforce worries that perhaps China will record lower growth rates than the 7% targeted by the country for the second half of the year.
Athex, amid the political turmoil and the campaign for the elections - the second in seven months - follows global markets which are moving lower due to the release of new negative data and the resurgence of concerns about the Chinese economy.
August posted a record high in terms of a daily decline on the general index of the Athens Stock Exchange (-16.23% on 3/8), while banking stocks fell to record low levels.
Since the beginning of the year, the general index lost 24.45% and the banking index lost 78.37%.
As regards the eight months period, the total capitalization of ASE has been reduced by € 16,9 bn.
August was the second consecutive negative month (after June 2015) as it scrapped 21.73% off the general index and 68.43% off the banking index.
At this hour ASE is falling by 1.09% at 617.38 points while FTSE is falling by 1.31% to 180.32 points.
The banking index is recording a decline of 3.08%.
In Athens, the negative sentiment is not so much due to the problems of the Chinese economy, as to the political instability and uncertainty that prevails in the country, causing concerns about delays in implementing the new bailout program, its assessment and the disbursement of the agreed amounts of funding.
From August 20, when Alexis Tsipras announced the resignation of the government by launching early elections, there was a greater outflow of deposits and an absence of new inflows, which resulted to the liquidity of banks falling to €800 mn against €1.1 bn before.
Tomorrow the european central bankers meet in Frankfurt as in the last days they have paved the way for the possibility of ECB proceeding to the expansion of the QE program either by increasing monthly purchases of debt securities or by extending its duration beyond September 2016.
Today the international markets face another difficult day as Chinese concerns make their return. New data confirm the slowdown of the Chinese economy and reinforce worries that perhaps China will record lower growth rates than the 7% targeted by the country for the second half of the year.
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