Greek bank shares fall sharply, yield spreads widen

Greek bank stocks were losing more than 4.0% on Thursday, underperforming the broader market, on wider government bond spreads and a downswing in Europe.
"Disappointment over Credit Suisse results and a widening of yield spreads prompted some profit taking after a good run this month," said analyst Nick Galousis at Kappa Securities.
At 14:45 GMT the Athens bourse's banking index was down 4.81% to 1,432.4 points. The index has gained about 20% since the start of the year.
Shares in Bank of Cyprus were down 6.7% with Alpha Bank losing 5.63%.
The yield spread on 10-year Greek government bonds over German bunds widened to 813 basis points.