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Downgrading pushes CSE down

08/03/2011 11:20
The CSE and the ASE recorded fresh losses on Tuesday, in the aftermath of the triple downgrading of Greece by Moody’s and after rumours that Cyprus might be downgraded by Fitch.

The banking stocks go down today, pressured by the downgrading of the Greek bonds by 3 notches to B1 from Ba1 and the warning that a new downgrading is underway due to the difficulties in the enforcement of the consolidation program.

By the time this text was in progress, the CSE general index was recording losses of 3.20% to 1011.11 points, while FTSE was down 3.16% to 343.22 points.

In the banking sector, BOCY in the CSE tumbled 3.26% to €2.67 attracting €169.9 thousand, while in Athens the share falls 2.92% to €2.66 with a turnover of €1.2 million.

CPB in the CSE declines 2.15% to €0.91 attracting €519.7 thousand of the investors’ interest, while MARFB in Athens is at €0.90 and at €-1.10%, concentrating €1.2 million of the volume.

Hellenic Bank slums 4.60% to €0.83.

The trading volume stands at €754.0 thousand.

Overall, 9 securities fall and 4 remain unchanged.

In Athens, the general index drops 1.72% to 1558.53 points and FTSE loses 1.82% to 719.45 points.

The daily turnover amounts to €37.3 million.

In Europe, London is up 0.23%, Frankfurt gains 0.62% and France puts on 0.36%.