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| Version 5 | Version 6 |
|---|---|
| Greek shares plunge as market reopens | Greek shares plunge as market reopens |
| (about 1 hour later) | |
| The main Athens stock index, the Athex, has fallen by 22.87% as trading resumes after a five-week closure. | The main Athens stock index, the Athex, has fallen by 22.87% as trading resumes after a five-week closure. |
| The nation's top four lenders - Piraeus Bank, National Bank, Alpha Bank, and Eurobank - were biggest fallers, all down by 30%, the maximum allowed. Banks make up about a fifth of the index. | The nation's top four lenders - Piraeus Bank, National Bank, Alpha Bank, and Eurobank - were biggest fallers, all down by 30%, the maximum allowed. Banks make up about a fifth of the index. |
| The bourse was shut just before Athens imposed capital controls at the height of the debt crisis. | The bourse was shut just before Athens imposed capital controls at the height of the debt crisis. |
| Traders had predicted sharp losses as a result of pent-up trading. | Traders had predicted sharp losses as a result of pent-up trading. |
| In mid-morning trading the market recovered very slightly, to about 20% behind. | |
| Meanwhile, data released on Monday showed that Greek manufacturing activity plunged in July to its lowest level on record as a three-week bank shutdown caused new orders to dive and created serious supply problems. | Meanwhile, data released on Monday showed that Greek manufacturing activity plunged in July to its lowest level on record as a three-week bank shutdown caused new orders to dive and created serious supply problems. |
| Markit's purchasing managers' index (PMI) for manufacturing, which accounts for about a tenth of the economy, fell to 30.2 points, the lowest reading since records began in 1999. A measure of 50 denotes growth. | Markit's purchasing managers' index (PMI) for manufacturing, which accounts for about a tenth of the economy, fell to 30.2 points, the lowest reading since records began in 1999. A measure of 50 denotes growth. |
| 'Negativity' | 'Negativity' |
| Not long after the reopen at 07:30 GMT, the Athex plunged to 615.16 points, down by 182.36 points from the 26 June close. | Not long after the reopen at 07:30 GMT, the Athex plunged to 615.16 points, down by 182.36 points from the 26 June close. |
| Holly Cook, editor of financial website Morningstar.co.uk told the BBC that it was "not really surprising that we're seeing all this negativity building up". | Holly Cook, editor of financial website Morningstar.co.uk told the BBC that it was "not really surprising that we're seeing all this negativity building up". |
| She said that the country's economy faced a potentially long road back to recovery. | She said that the country's economy faced a potentially long road back to recovery. |
| "We need to see what's going to come in the weeks and months ahead," added Ms Cook. | "We need to see what's going to come in the weeks and months ahead," added Ms Cook. |
| Constantine Botopoulos, head of the Greek capital markets commission, told Skai radio: "Naturally, pressure is expected, markets will not fail to comment on such an extensive shutdown." | Constantine Botopoulos, head of the Greek capital markets commission, told Skai radio: "Naturally, pressure is expected, markets will not fail to comment on such an extensive shutdown." |
| He added: "But we must not get carried away. We must wait until the end of the week to see how the reopening will begin to be dealt with more coolly." | He added: "But we must not get carried away. We must wait until the end of the week to see how the reopening will begin to be dealt with more coolly." |
| Recession | Recession |
| Although Greece struck a bailout deal with its creditors last month, political in-fighting in Athens over the conditions could still result in prime minister Alexis Tsipras calling an early election. | Although Greece struck a bailout deal with its creditors last month, political in-fighting in Athens over the conditions could still result in prime minister Alexis Tsipras calling an early election. |
| The Greek economy has begun to reverse the gains it was making before Mr Tsipras's Syriza-led coalition took power in January on an anti-austerity platform. | The Greek economy has begun to reverse the gains it was making before Mr Tsipras's Syriza-led coalition took power in January on an anti-austerity platform. |
| The European Commission expects Greece to go back into recession this year, with the economy contracting by between 2% and 4%. | The European Commission expects Greece to go back into recession this year, with the economy contracting by between 2% and 4%. |
| The Greek economy was in recession for six years until 2014. | The Greek economy was in recession for six years until 2014. |
| Are you in Greece? Are you a trader? What do you think about the fall in the Athens Stock Exchange? You can email haveyoursay@bbc.co.uk with your views. | Are you in Greece? Are you a trader? What do you think about the fall in the Athens Stock Exchange? You can email haveyoursay@bbc.co.uk with your views. |
| Please include a contact number if you are willing to speak to a BBC journalist. You can also contact us in the following ways: | Please include a contact number if you are willing to speak to a BBC journalist. You can also contact us in the following ways: |