Greek Banks Lose Half of Their Value as Stock Market Reopens

The Greek stock exchange opened after a five-week hiatus on Monday and, as expected, the results weren’t pretty.

Banking stocks were the worst-hit in Athens with several stocks hitting their maximum daily declines, called a “limit down.”

Despite the heavy selling, the reopening of the index was seen as positive for the debt-stricken country as it continues to negotiate with international creditors on its third bailout.

via CNBC

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