Banks, PPC push stocks up as outlook for debt crisis improves

Greek shares reversed a recent losing trend Wednesday on hopes that European efforts to tackle the country?s debt crisis will bear fruit. European stocks also rose, as the European Commission said it was presenting options for euro-area bonds.

The Athens Exchange (ATHEX) general index gained 1.67 percent to 857.18 points. The blue chip FTSE/ATHEX 20 index rose 2.09 percent to end at 359.69 points, led by banks and Public Power Corporation (PPC), which surged 6.67 percent to 6.24 euros.

National Bank advanced 6.42 percent to 3.15 euros, Bank of Cyprus rose 4.20 percent to 1.24 euros and Alpha Bank gained 2.53 percent to 1.62 euros. Gaming firm OPAP plunged 4.44 percent lower to 7.31 euros.

Turnover rose to 66 million euros, with 87 stocks moving up, 50 going down and 41 ending unchanged.

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