Equities rise for second day, banks bolstered by Citigroup

Greek equities rallied on Tuesday, bolstered by a Citigroup report on the banks of the eurozone periphery, while stocks elsewhere on the continent were little changed.

The Athens Exchange (ATHEX) benchmark closed 2.37 percent higher, at 1,090.60 points. The large-cap FTSE-25 index gained 2.49 percent to 352 points, while the banks index rose 4.75 percent to 146 points. National Bank, singled out by Citigroup, advanced 3.98 percent to 2.35 euros, accounting for more than a fifth of total turnover. Piraeus Bank climbed 3.85 percent to 1.35 euros. Eurobank, Attica Bank, Alpha Bank, Titan Cement and OTE telecom also outperformed.

Analysts took the view that the rise was not surprising after the recent run of 10 losing sessions and should not be overestimated.

Turnover came to 92.43 million euros.