Greek banks skyrocketed on Monday, as they recorded their
biggest increase since May 2010, pushing the market ahead in a very heavy turnover.
biggest increase since May 2010, pushing the market ahead in a very heavy turnover.
In the wake of the European Summit, which decided to ease repayment terms on Greece΄s loans and support its bond sales, the domestic market managed to differentiate its course from the European indices.
The market sentiment was also helped by the narrowing of Greek government bond spreads and the reports by JPMorgan and Nomura, which upgraded European banks to “overweight” and placed a “long” rating on Greece, Portugal and Spain.
Across the board, the General Index ended at 1662.38, up 5.15%, moving on positive grounds throughout the trading session. Approximately 60.03mn units worth EUR 239.87mn were traded on Monday. A total amount of 156 shares rose, 24 declined and 39 remained unchanged.
"We saw renewed buying interest today because some uncertainty about a Greek default has been removed," a local analyst told Dow Jones Newswires. "I think we΄ll see this rally continue, but only by another 100 points."
Across the board, the General Index ended at 1662.38, up 5.15%. Approximately 60.03mn units worth EUR 239.87mn were traded on Monday. A total amount of 156 shares rose, 24 declined and 39 remained unchanged.
Banks soared at 1441.76 units, up 8.71%. Hellenic Postbank (+11.73%), Proton Bank (+10.26%) and National Bank (+10.12%) posted double digit profits, while Eurobank, Piraeus Bank and ATEBank climbed by 9.83%, 8.9% and 7.69% respectively. Bank of Cyprus, Alpha Bank, Attika Bank and Marfin Popular Bank gained 7.25%, 6.71%, 6.6% and 6.59% respectively.
source: CAPITAL
