Market reacts positively to likely Karatzas re-election
Firm banks helped pull Greek equities 0.83 percent higher yesterday, as index heavyweight National Bank outperformed on news its current chairman is likely to get re-elected to a new term. National Bank’s board decided to propose that Chairman Theodoros Karatzas stays on for a new three-year term at the upcoming general assembly on April 24. Brokers said the expected re-election helps quell uncertainties over the bank’s management and investment plans. «The news concerning Karatzas was expected in Greece but is seen positively by foreign investors who know him as the man who essentially made the bank,» said Dimitris Triantafyllou, analyst at Euroxx Securities. National gained 2.10 percent to 20.46 euros with Greece’s No. 2 bank, Alpha, firming 0.26 percent to 15.72 euros. The benchmark general index gained 0.83 percent to 2,221.49 points. The FTSE/ASE-20 index of blue chips gained 0.95 percent to 1,170.50 points. The FTSE/ASE-40 index of mid-caps advanced 1.03 percent and small-caps on the FTSE/ASE-80 added 0.58 percent. Total turnover was 84.44 million euros on volume of 18.06 million shares. (Reuters) Bursa exhibition
