Tuesday, May 4, 2010

Greece's Stock Market down 67% from late 2008 peak

Greece's stock market lost another 6% overnight, reaching a level that is 67% below the late 2008 peak of 5250.  The screenshots below are for 4yrs and one month price history on a daily timeline.  The one month chart shows some classical stair stepping down despite some strength through late February as bailout plans were being constructed.  The weakness seems to remain.  A break of the 1664 level could mean next stop is down to the March 2009 low of 1457.  The TSX is dragged lower in early trading, by some measure an expression of the weakness perceived in Greece and Europe.  Portugal, Spain and Italy are all experiencing a widening of their credit spreads.  The contagion continues.





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