Greek Stock Market Might Reopen Tuesday

he Greek stock exchange will remain closed on Monday but might reopen on Tuesday after a one-month shutdown, official sources said.

“It’s certain that it will not open on Monday, maybe on Tuesday,” a spokesperson for the Athens Stock Exchange told Reuters on condition of anonymity.

Another person with direct knowledge of the matter confirmed that Greek authorities aimed to reopen the bourse on Tuesday.

The stock market has been closed since June 29 when Athens shut its stricken banks and imposed capital controls to stem a run on deposits that threatened to collapse the tottering Greek financial system. The shutdown has put at risk the bourse’s place in global securities indices.

Banks reopened last Monday and Greece submitted a plan to the European Central Bank last week for an opinion before a decision was made by the Greek finance ministry which would allow the stock market to resume trading as early as Monday.

via Reuters

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza