Bank shares plummet at Athens bource

Market worries over a larger "haircut" of Greek bonds shocked share prices at the Athens Stock Exchange on Monday, with bank shares free-falling as investors discounted a 50-pct haircut in Greek bonds, which would result to losses of around 15 billion euros for domestic banks as well as lead several financial institutions to the Financial Stability Fund. The composite index dropped 4.51 pct to end at 747.08 points, off the day lows of 740.19 points. Turnover was a low 47.463 million euros.

Hellenic Postbank (25.11 pct), Attica Bank (24.9 pct), Piraeus Bank (22.15 pct), National Bank (20.79 pct), Eurobank (20.25 pct) and Alpha Bank (19.14 pct) suffered the heaviest percentage losses among blue chip stocks. The Big Cap index fell 6.70 pct, the Mid Cap index ended 4.96 pct lower and the Small Cap index dropped 5.48 pct. 

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