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ASE Records Heavy Losses After PM's Referendum Decision

Athens Stock Exchange recorded heavy losses on Tuesday, after the Greek PM surprised everyone with his announcement of holding a referendum for the resolutions of the Euro Summit of October 26.
Political and economic uncertainty resulted in Greek indices plunging and simultaneously dragging down with them the European and international bourse  Intra-day losses of the General Index and the banks reached 7.8% and 14.48% respectively.
“We are entering a period of high uncertainty and political activity behind the scenes. Referendum or national elections appear to be the most possible scenarios”, commented Marfin Analysis.
Banks closed with a fall of 11.3% to 280.47 points. A total amount of 119 shares declined, 29 rose and 128 unchanged. Hellenic Postbank and National Bank suffered the heaviest pressures, posting losses of 16.11% and 14.53%.

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