US fund for trading of Greek shares collapsed

Noam Stiekema

The US fund Global X FTSE Greece 20 ETF, which is the only option for speculators of trading of Greek shares, is in free fall in recent days. Following the early Monday agreement between Greece and creditors for the launch of negotiations for a third rescue program, the investors in Greek shares reigns uncertainty about […]

Greek shares trade

Greek shares tradeThe US fund Global X FTSE Greece 20 ETF, which is the only option for speculators of trading of Greek shares, is in free fall in recent days. Following the early Monday agreement between Greece and creditors for the launch of negotiations for a third rescue program, the investors in Greek shares reigns uncertainty about the ability of Athens to push reforms. In addition, until Wednesday, parliament is to vote the necessary legislative changes, which can lead to a restructuring of the Cabinet – according to government representatives may be concerned about extensive changes.

At the end of trading on Tuesday in New York Global X FTSE Greece 20 ETF closed with a downturn of 8.8% to 9.82 USD per share. Early in the week, on Monday, the fund reported a decline of 4.3%. Development fund demonstrates very clearly what can investors expect when eventually the Athens Stock Exchange resume operations. There Index consists of the 20 most important Greek stocks by market capitalization. Athens Stock Exchange will remain closed until the last bank holiday in the country, which has been extended now to Wednesday.

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