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  • Athens Stock Exchange takes a beating – Major loses for DEI and OLP

    The stocks of public power company DEI and the Piraeus Port Authority (OLP) have taken a “serious beating” today, following…

    The stocks of public power company DEI and the Piraeus Port Authority (OLP) have taken a “serious beating” today, following statements made by the Minister of Productive Reconstruction, Environment and Energy Panagiotis Lafazanis, regarding the suspension of privatizations.

    As a result, the price index at the Athens Stock Exchange dropped by 8.20% to 719.32 points by 15:30, with transactions valued at 127.73 million euros.

    DEI’s stock has dropped by about 8.9%, on to of the 12% drop in value that occurred on Tuesday. Similarly the value of OLP’s stock is down by 9.64%. The Greek bond market was also affected, with the yield of 10-year bonds increasing to 10.31%, 3-year bonds to 15.4%, 5-year bonds to 12.6%, 15-year bonds to 10.1% and 30-year bonds to 8.5%.

    The systemic banks are also under a lot of pressure, with Eurobank’s stock down by 14%, the National Bank of Greece is down by 11.61%, Piraeus Bank down by 11.51%, while Alpha Bank is currently down by 10%.

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