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Summer break is up! The Greek stock market reopens for business

August 5th, 2015 by

Following a 5-week closure, here's how much Greece's top companies just lost in the stock market's open

 
 
 

Greece's stock market is back in business - and it has already lost billions in market value for the country's top businesses.

According to the CBC, their main stock index plunged more than 22 percent shortly upon its first open after a 5-week hiatus, closing at a 16.2 percent loss by the end of the trading day. 

The panic room

Greece has a deadline of August 20 to pay its creditors back - a debt that comes out to more than 3 billion euros. 

Over the past five weeks, manufacturing activity in the country has tumbled to a record low, while results from a monthly consumer and business confidence survey have dipped for a fifth consecutive month to their lowest level since October 2012. 

Though Greece is in talks with bailout lenders, the country is still rationing its cash. 

And while uncertainty is still at the forefront of the country's economic crisis, one thing has become apparent: Greece's stock market may be back in business, but it's clear some investors just want to back out. 

Want to read more?

CBC: Greek stocks plunge after five-week closure

 
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May 26 2017 6:15am
 
 
 
 

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