Greek banking shares rally as political risk fades
HONG KONG, July 25 (Reuters) - ** Greek banking shares
rose 5.4 percent on Friday, outperforming a 1 percent
rise by European peers
** Gains attributed to Greek PM dismissing scenarios for
snap polls.
** PrimeMinister Antonis Samaras said on Thursday he
believed Greece's parliament would agree to elect a new
president next year without having to call early elections,
according to the semi-official Athens News Agency.
** His comments eased concerns that the government would
fail to gather a minimum of 180 deputies, required to elect a
new president.
** "Banking shares have had big losses since early June,"
said an Athens based trader who declined to be named. "But
Samaras' statements weakenedthe political risk and this is
giving investors a reason to start buying."
** Greek bank shares have lost 13 percent since mid-June.