Delirium at the ASE, banking shares at +30%

The Greek “hands” that have boosted the stock market since yesterday are of a somewhat foreign “colour”, which means that the Greek banking system will support the recovery of the Greek economy.

Today’s banking delirium, which launched some banking shares to 30%, means something more than a positive outcome in the bond exchange program. That’s because Greeks cannot be buying Greek bank shares at +30%.

The Index finally closed at 766.23 points, recording an increase of 3.93%.

Foreign firms (Goldman Sachs - Credit Suisse - Citigroup) yesterday made placements and they expect more positive developments than anyone is aware of yet. As for the Alpha Bank shares, there is information that the Qatar Fund is buying fervently in view of the Eurobank merger.

Thus, the ASE from noon onwards launched itself from its +1% to 4.94%. In the afternoon, Alpha Bank and Eurobank shares locked at +30%, showing that there is more at play besides the bond exchange program.

Alpha Bank ended up with +28.4%, Eurobank at +28.8% and the National Bank at +18.14% at 2.41 euros.

Piraeus Bank +29.9%, Postbank +22.4%. More than 4% increase for Mitilinaios and OPAP and 3.19% rise for Motor Oil. The general index closed with gains of over 3%, even when Coca - Cola eventually lost 2.68% and Viohalco 2.75%. Total trading amounted to 118.5 million, five times higher than the amount of 20 million effected during the period of depreciation.