The coalition government’s announcement of bringing forward the Presidential election for the 17th of December has had a negative impact on the Greek stock exchange market and Greek bonds.
On Tuesday’s opening at the Athens Stock Exchange (ASE) equity prices were dropping, with the basic share price index down 11.13%, standing at 919.91 points shortly at 4pm.
Additionally the FTSE/ASE Large Cap index for blue chips and heavily traded stocks was down by 6.99%, while the FTSE/ASE Mid Cap index was down by 7.72%.
The yield of the 10-year bond grew from 7.24% on Monday to 7.82% following the announcement of Presidential elections. The 3-year and 5-year bonds were also affected, with the yield shifting from 6.2% to 7.54% and 6.33% to 7.22% respectively.
