Greek stocks close 2.53 per cent down on third day of turmoil

Anti-austerity protesters in Athens on Aug 5, 2015.
Anti-austerity protesters in Athens on Aug 5, 2015.REUTERS

ATHENS (AFP) - Greek stocks closed 2.53 per cent down on Wednesday in a turbulent week on the Athens exchange, after the end of a five-week shutdown sparked the biggest drop in its history.

The Athex index ended the day at 643.22 points, with Greek banks suffering for a third straight day.

The bank index was down 24.52 per cent and the four main lenders were again near the maximum allowed drop of 30 per cent.

Piraeus Bank and Alpha Bank lost over 29.5 per cent, Eurobank closed 22.54 per cent down and National Bank was over 20 per cent in the red.

The Athens market reopened on Monday five weeks after the government imposed capital controls to prevent a bank run and stave off financial collapse at the height of its standoff with EU-IMF creditors over a new bailout.

The Greek government and European Commission chief Jean-Claude Juncker have expressed hope that debt-crippled Greece and its creditors will reach a deal on a new rescue package in time for Aug 20, when it is due to pay the European Central Bank €3.4 billion (S$5.1 billion).