Greek stocks plunge 22% as bourse reopens

Athens: Greece`s stock exchange reopened on Monday with a drop of more than 22 percent after a five-week shutdown imposed by the country`s debt crisis and capital controls.

The ATHEX plunged to 615.72 points a few minutes after opening at 0730 GMT, down 22.82 percent from its June 26 close.

The country`s main banks took a heavy blow at the opening with drops of around 30 percent.

"Naturally, pressure is expected, markets will not fail to comment on such an extensive shutdown," Constantine Botopoulos, head of the capital markets commission, told Skai radio.

"But we must not get carried away. We must wait until the end of the week to see how the reopening will begin to be dealt with more coolly."