ECONOMY

Bank stocks soar 21 pct

The Greek bourse reopened on Tuesday after the four-day recess due to the Western Easter holiday with significant gains, especially for bank stocks, despite the negative performance of most European markets on the day.

The Athens Exchange (ATHEX) general index ended the day at 730.03 points, expanding by 3.17 percent from Thursday?s closing of 707.60 points.

The blue chip FTSE/ATHEX 20 index added 6.58 percent to end at 288.03 points.

Banks rose 21 percent on rumors that their nationalization will be averted after all in the recapitalization process. Eurobank EFG gained 28.65 percent, Alpha added 27.08 percent and Piraeus rose by 27.31 percent. Coca-Cola HBC fell 3.32 percent.

In total, 93 stocks registered gains, 53 posted losses and 17 remained unchanged.

Turnover came to 60.9 million euros, from 22.9 million last Thursday.

Total turnover in March amounted to 1.11 billion euros, which was 33.9 percent lower than a year before and 57.6 percent less than in March 2010.