ECONOMY

Banks boost index to two-month high

Equities rose more than 1 percent yesterday to a two-month high on the back of solid gains in financials led by heavyweight National Bank. National held on to early gains, ending up 3.14 percent at 14.46 euros, thus reversing some of recent losses ahead of the rebalancing of the Morgan Stanley Capital International Greece Index, in which its weight was reduced. «The Greek market is following Europe today, with banks rebounding after the sector’s last few average sessions,» said Dimitris Apistoulas, analyst at EFG Eurobank Securities. The benchmark general index gained 1.07 percent, ending just off its session high at 1,892.78 points, its highest point since mid-September. Banks rose 2.38 percent. The blue chip index added 1.18 percent to 925.27 points. Mid-caps gained 1.71 percent and small-caps rose 1.79 percent. Turnover was 101.45 million euros on 31.8 million shares traded. Winners beat losers 264 to 72 with 29 shares unchanged on 365 traded. (Reuters)