The Greek stock market fell for a third day in a row on Friday as concerns about the state?s cash flow rose due to statements by ministers.
The Athens Exchange (ATHEX) general index closed at 880.48 points, shedding 2.67 percent from Thursday?s 904.59 points. On a weekly basis the benchmark added 3.08 percent, but February posted a 21.96 percent rise.
The stock market regained its composure somewhat after Parliaments widely anticipated failure to elect a new president and Prime Minister Antonis Samarass announcement of general elections next month, as losses of up to 11 percent in afternoon trade were reduced to less than 4 percent by the end of the first session after Christmas.
The Greek bourse reacted calmly on Tuesday to the result of the presidential vote in Parliament, which while seeing a rise in support for the governments candidate was still some way off the result required in next Mondays third and final vote. The majority of stocks posted small losses on a day of poor turnover ahead of the Christmas recess.
Bourse benchmark has lost 20 percent in the last three days
Greek securities sank afresh on Thursday as panic selling in stocks and bonds led the bourse benchmarks total losses over the last three sessions to 20 percent, with 13 billion euros wiped off the value of Greek shares, while 10-year sovereign bond yields soared over 9 percent.
York Global Finance Offshore BDH (Luxembourg) S.a.r.I. announced the acquisition of another 5,133,174 shares in blue chip Terna Energy on Thursday in a non-bourse transaction amounting to a 4.70 percent stake in the Athens-listed company.
The share purchase has seen York Globals stake in the Greek energy firm climb to 7.70 percent,corresponding to 8,412,606 shares.