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Greek stocks relentlessly pummeled by Britains referendum result

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By Alexandra Tompra

 

Today marked the third hardest free-fall of the Athens stock exchange in three decates, succumbing to the international selling-off triggered by the british referendum result.

 

The general index posted losses of 13,42%, closing at 534,89 points, dropping as much as 15,46% intraday. Total turnover was 161,67 million euros and volume 300,49 million stock pieces.

 

Hi-cap stocks were hit hard with losses of 15,85% but it was nothing like the banks that dropped as much as 29,68%.

 

Stock exchange sources told Capital.gr that investors need to reassess their investing strategies whether short or longer term. Within this perfect storm, all bets are off about whats to come next. No one can tell when Athens stocks will bottom out.

 

All in all, total market capitalization fell by a whopping 6,2 billion euros - dropping to 37,8 billion euros from 44,04 at yesterdays closing.

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