Greek Banks Soar On NBG-Alpha Bank Talks
It was one the most interesting sessions in the recent months on Friday, as National Bank’s proposal to Alpha Bank for a merger triggered a –until then- flattish session, pushing the market upwards.
EUR119.62mn out of total turnover’s EUR192.29mn were channelled through banks, which soared, ending at 1556.63 units, up 7.12%.
Hellenic Postbank climbed by 19.77% at EUR4.12, while Eurobank, Proton Bank and Attica Bank rose by 16.89%, 16.47% and 15.6% respectively.
The profits of Piraeus Bank and ATE Bank followed at 15.43% and 10.59% respectively.
Marfin Popular Bank and Bank of Cyprus gained 9.09% and 8.84% respectively, while Geniki Bank was enhanced by 7.55%.
National Bank and Alpha Bank had been posting gains of 1.2% and 4.36%, when Athens Exchange decided to suspend their trading.
Across the board, the General Index ended at 1715.13 units, up 3.16%. Approximately 74.64mn units worth EUR 192.29mn were traded on Friday, while a total amount of 131 shares rose, 44 declined and 109 remained unchanged.
"NBG’s surprise, friendly, all-share offer to absorb Alpha positively shocked the market and led to a banking stock rally," a senior equity analyst told Dow Jones Newswires.
"The development is good for the whole domestic banking sector even if we don’t know if Alpha will accept to create the largest single Greek bank", he added.
Pegasus Securities noted that the market’s dynamics increase the possibility for the General Index to keep an upward trend, while the mild recent corrections maintain the market sentiment at a good level. Along with the developments in the banking sector, the market will focus on the financial results of Frigoglass, Hellenic Petroleum, Eurobank, Marfin Popular, Jumbo and OTE.
(capital.gr)
.