Bank sector fears driving markets
Investor sentiment on the Athens bourse remains weak after the market gave up 1.06 percent last week, pushing some stocks to fresh lows. Eurobank, Greece’s second-largest lender, ended on Friday at 12.76 euros – the lowest level for its shares since October 2004. On Friday, the bourse’s benchmark general index lost 0.67 percent to close at 3,110.57 points. Sources said the course of foreign markets will largely shape investor interest as the local newsflow remains thin. Wall Street will likely remain on edge this week due to fears over the stability of other large financial companies, even if the fate of financial services firm Lehman Brothers is resolved over the weekend. As with the collapse of investment bank Bear Stearns back in March, investors are bracing for developments on Lehman that could again reshape the US financial landscape, as fallout from the credit crisis escalates.
