Greek banking stocks plunge for second day on debt buyback concerns


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.

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"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)