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its Eleftherias Kourtalis
MSCI’s decision to remove the Greek capital index from the standard limit and lower the shares of the three Greek systemic banks: Alpha Bank, Eurobank and National Bank, with strong shocks, with an increase in the volume of transactions in the industry, has caused strong shocks.
Alpha Bank’s shares have now fallen to new all-time lows, while Eurobank is near 52-week lows and near all-time lows (0.293 euros in February 2016). Specifically, they are trading at € 0.5066 and € 0.3002 respectively with losses of more than 14% and 10%. Losses for the bank index are close to 11%, while the participation of the National Bank has dropped 10.53% and 1.02 euros (although far from the historical lows), while the pressures on the Piraeus Bank are more mild (-3.13%) that is not “related” to MSCI changes.
Expected outflows of shares from the three systemic banks, to be completed by the end of the month, have soared, with Alpha Bank trading exceeding 9 million units and 12 million units from Eurobank. and in the National Bank the 4 million pieces.
It is worth noting that, according to VTB Capital, Alpha Bank’s outflows will move to 72 million euros, from the National Bank to 54 million euros, while according to SocGen’s calculations, the outflows to Alpha Bank will reach 44, Euro 1 million, or 64.45 million shares, in Eurobank will amount to 45.67 million dollars or 120.44 million shares and in the National Bank sees outflows of 32.57 million dollars or 25.46 million. Share.
As Elias Zacharakis of Fast Finance points out, there are around 10 meetings left to complete the outings due to MSCI (May 29). The market, due to anticipation of the decision, had slowed, waiting for the announcement and the offer. The banking sector is the one that is essentially bringing down the market as it is already testing the level of its all-time lows.
