Rebounding banks push index back over 2,200 pts
Strong banks pulled equities 1.50 percent higher yesterday, led by a 3-percent jump in index heavyweight National Bank as the market tuned in to positive performances on foreign bourses. «We finally reacted strongly to gains abroad. Investors could no longer ignore this, given the good prices of local blue chips,» said Costas Zareifopoulos, analyst at Pentedekas Securities. Banks added 2.19 percent after the sector shed more than 10 percent since the start of the month on first-quarter bank profit concerns. Brokers said banks are expected to remain in the spotlight, but more sustainable gains are needed if small- and mid-caps are to follow. Telecoms stocks gained 0.90 percent. The Athens bourse’s benchmark general index ended marginally off the session’s high at 2,202.11 points. The FTSE/ASE-20 index of blue chips added 1.81 percent to 1,158.70 points. The FTSE/ASE-40 index of mid-caps rose 1.01 percent and small-caps gained 1.44 percent. Total turnover improved to 93.01 million euros on volume of 19.1 million shares. (Reuters) Ferries
