Athens stocks drop 2.8 per cent on removal of Bank of Cyprus

This morning saw the Athens Stock Index drop by 2.8 per cent due to technical adjustments resulting from the removal of the Bank of Cyprus from the index.

The stock has not yet been replaced. The failed bank was was placed in resolution by the Cypriot central bank in March.

Greek corporate restructuring expert Christos Sorotos was been appointed as interim CEO at the bank. He is now expected to begin work on May 29.