Stocks in Athens edged higher in early trade, in line with Europe’s trends.

Greek banks announced a four-month moratorium of loans to floods-affected borrowers.

Equities closed down, hitting three-month lows, as investors are concerned over the cost of the damages caused by the devastating Storm Daniel.

Greece will mobilise additional 500-600 million euros to restore road and rail networks in the flood-stricken areas of central Greece.

Equities suffered severe losses at midday, with banks taking a battering.

Greece’s Supreme Court has ordered on Wednesday an investigation into possible mismanagement in funding for anti-flooding works in the Thessaly region.

Eurobank said that some 5.8 million common shares, stemming from the management stock option scheme, will commence trading on Thursday, September 14. The issue price is 0.23 euros per share.

Greece aims at drawing up to seven billion euros from capital markets in 2024, through new bond issuances.