Hellenic Bank Shares Distinctly Drop
- Written by Maria Athens
Today, Hellenic bank shares distinctly dropped, that resulted in a wider equities market decline, as traders referenced nervousness regarding various frail European markets and the European Central Bank's vast stress test, according to Kathimerini.
The Athenian bourses's banking index declined by 8.2% and held 134.82 points this morning at 8:51, with National Bank Shares down 5.7% and Alpha Bank shares dropping 10%.
Attica Bank's wealth management chief Theodore Krintas described, "There are worries banks may need additional capital after the ECB's stress test in November and there is also nervousness because of resurging geopolitical tension and weak European bourses".
The European Central Bank is set to conduct a test on the four leading banks of Greece within 2014. AssetWise asset management head Costantine Morianos stated, "The steep drop is hitting stop losses in relatively thin trading volume but I think the selling pressure is overdone".
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