Greek stocks tumble after five-week shutdown

http://www.dw.com/en/greek-stocks-tumble-after-five-week-shutdown/a-18623341

Athens-listed stocks have fallen sharply after a five-week market closure as part of capital controls in the indebted eurozone nation. There was uncertainty over when more bailout money would arrive.

Greek stocks tumble after five-week shutdown
03.08.2015

Greece on Monday took another step away from crisis mode by reopening its stock markets after a five-week break, but as trading resumed, many shares listed on the stock exchange in the capital took a steep dive

Much of the rout was attributed to continuous uncertainty about the country's liquidity buffer. The Athens lead index plummeted by almost 23 percent upon opening and was down by more than 18 percent by mid-day.

The drop in stock value was largely in line with analysts' predictions. WallachBeth Capital Managing Director Ilya Feygin told Reuters to expect losses between 19 and 22 percent.

Beta Securities trader Takis Zamanis even went so far as to say that no single share would gain on the day.