Greek stock exchange market expected to open 20% lower
The Athens Stock Exchange is set to reopen with an expected 20% fall on Monday after five weeks of remaining closed.
Although economic activity at the bourse will be resumed, some restrictions for both domestic and foreign investors are expected to be kept in place.
Read more: Greek banks reopen but capital controls still in place
The Greek stock market was expected to reopen last week, after receiving approval from the European Central Bank (ECB).
However, technical hitches at several domestic banks hampered efforts to resume activity, forcing it to remain shut.
Read more: Athens stock market not likely to open this week
It was closed in June before the country's government imposed capital controls. The European Commission forecast the country will slip back into recession this year, with an economic contraction in the 2% to 4% range
OANDA's senior market analyst Craig Erlam commented that the loses expected from the Athens stock market are likely to be led by the country's banks, "which have been hit considerably by the events of this year and now need to be recapitalized at the very least".
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