Bank of Greece shares buck southbound trend

Bank of Greece shares buck southbound trend

Not all Greek bank stocks fell on Tuesday – the central bank’s shares soared.

Bank of Greece is one of the rare central banks to be traded on a public bourse.

Its shares were up 15.8 percent on Tuesday, a day after gaining 8.5 percent, albeit from an opening low not seen since the late 1990s.

The Greek commercial bank index – which excludes Bank of Greece – fell close to 30 percent on both Monday and Tuesday as investors worried about recapitalization stemming from a flight of euros from deposits.

As a central bank, Bank of Greece has no recapitalization needs.


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