Greek bourse to cut fees from July 1

Greek bourse Hellenic Exchanges is to cut fees for investors, companies and brokers to attract more business amid the country's debt crisis.

As of July 1, Hellenic Exchanges will cut its trading fee to 0.0125 percent from 0.0150 percent, it said on Monday.

The Athens general index dropped to its lowest level in more than 12 years earlier this month, as foreign investors pulled out.

Other tariff cuts include reduced fees for mid and small-sized companies, brokers and custodians. The value of the portfolio excluded from a fixed management charge is being raised to 15,000 euros ($18,500) from 3,000.

"At a difficult time for the Greek economy, we are reducing our fees, both for investors as well as for listed companies and other market participants, in order to increase the competitiveness of the Greek capital market," said Spyros Capralos, the bourse's chief executive.

The Greek equity market's total capitalisation fell 15.4 percent month-on-month to 60.9 billion euros in May, translating to about 25 percent of the country's gross domestic product (GDP).