Shares on Athens stock market fall nearly 12 percent

[Magkisa83]

Shares on Athens stock market fall nearly 12 percent as institutional investors liquidate

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"October 24, 2008 - 10:40 a.m.
ATHENS, Greece (AP) - Shares on the Athens Stock Exchange were close to 12 percent down in midday trading Friday, one day after hitting a five-year low.
The Athens Composite Index, Greece's main stock market benchmark, was 11.88 percent down at 3:16 p.m (1216 GMT), reaching 1,686.93 points as foreign institutional investors liquidated their positions.
The index has lost more than two thirds of its value since the beginning of the year, making Athens one of the worst-performing stock markets in the world.

According to end-September data by the Athens bourse, foreigners hold 51 percent of all Greek stocks and 55 percent of all the stocks in Greece's 20 biggest companies
Foreign investors poured into the Greek stock market after the 2004 Athens Olympics. The games had raised the country's profile as a hub for investment after public spending helped spur the country's economic growth to about 4 percent a year — twice the eurozone average.
The Greek economy is expected to decelerate to 2 percent next year, weighed down by less consumption and fewer tourist arrivals from abroad, according to estimates by the International Monetary Fund released this month."

Is anyone else freaking out over this? For those, like me, who don't know much about stocks, try this article for general economics.
Focus shifts to recession fears

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We're talking Switzerland, Japan, Germany, Britain and America. So just imagine how badly this could hit Hellas! For those of you there, have you started to make some kind of provisions for bad times? What does everyone think of the meeting of European leaders proposed next month in response to the plumeting stock market?

[Ellinas]

The downfall of the Athens Stock Market is impressing, like the downfall of most major cities stock markets all over the world. The average Greek is not feeling the crisis yet but as it looks like unfortunately soon the crisis will pass to the "actual economy" and people will start feeling the consequences. Let's hope that this is not going to happen in a big extent. Maybe shutting down the stock markets temporarily can help the situation stabilize.

[Angelo]

Greek stocks recorded one of their biggest one-day rebounds ever in the Athens Stock Exchange on Wednesday, as investors became aggressive buyers in the wake of strong gains in international markets. The composite index ended at 1,969.84 points, up 9.54 pct with turnover a moderate 325.1 million euros, of which 12.4 million euros were block trades.

All sectors scored gains, with the Telecoms (15.81 pct), Banks (12.32 pct), Raw Materials (11.57 pct), Financial Services (11.41 pct) and Healthcare (9.54 pct) scoring the biggest percentage gains of the day.

The FTSE 20 index jumped 10.82 pct, the FTSE 40 index ended 6.04 pct higher and the FTSE 80 index jumped 8.33 pct. Broadly, advancers led decliners by 242 to 26 with another 21 issues unchanged.


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[Angelo]

Greek stocks up 2.04%

Greek stocks continued moving higher for the second consecutive session in the Athens Stock Exchange on Thursday, following a recovery trend prevailing in international markets. The composite index ended at 2,009.99 points, up 2.04 pct, with turnover a low 238 million euros, of which 4.5 million were block trades.

Most sectors moved higher, with the Food/Beverage (6.88 pct), Oils (4.40 pct), Telecoms (3.27 pct), Utilities (3.26 pct), Banks (2.35 pct) and Financial Services (2.26 pct) scoring the biggest percentage gains of the day, while Travel (2.90 pct), Personal/Home Products (2.17 pct) and Insurance (1.81 pct) suffered losses.

The FTSE 20 index rose 1.94 pct, the FTSE 40 index was down 0.06 pct and the FTSE 80 index rose 1.02 pct. Broadly, advancers led decliners by 163 to 72 with another 51 issues unchanged.




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[Angelo]

10/30/2008

Greek stocks jump 4.04 pct

Greek stocks rebounded strongly in the Athens Stock Exchange on Monday, despite a negative climate in other European markets. The composite index of the market jumped 4.04 pct to end at 1,798.24 points, reversing an early sharp drop to 1,642.56 points. Turnover was a strong 423.4 million euros, of which 200.1 million euros were block trades.

Most sectors moved higher, with the Food/Beverage (9.32 pct), Banks (8.93 pct), Insurance (7.01 pct) and Industrial Products (4.68 pct) scored the biggest percentage gains of the day, while Travel (3.05 pct), Telecoms (2.81 pct) and Media (1.30 pct) suffered losses.

The FTSE 20 index rose 4.77 pct, the FTSE 40 index ended 4.84 pct up and the FTSE 80 index rose 2.80 pct. Broadly, advancers led decliners by 147 to 100 with another 36 issues unchanged


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