Greek banking stocks plunge for second day on debt buyback concerns

ATHENS Wed Nov 28, 2012 6:04am EST

ATHENS (Reuters) - Greece's bank stocks dropped on Wednesday for a second consecutive day on concerns that a Greek debt buyback plan as part of the country's international bailout might hit their capital.

The banking stock index was down 5.1 percent at 0404 EDT, extending a 9.8 percent loss in the session on Tuesday.

"There is uncertainty about the terms of the debt buyback program. If banks participate to a high degree, their future bond income might suffer," said Natasha Roumantzi, an analyst at Piraeus Securities.

(Reporting by Maria Paravantes, writing by Harry Papachristou)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.