Exceptional bourse rally fuelled by banks' merger

Stocks on Monday posted their biggest single-day increase in the history of the Athens Stock Exchange, lifting off on the heels of the Alpha Bank-Eurobank merger deal and erasing most of last week's loses at the bourse, especially in the banking sector.
Alpha Bank's share price posted gains of 30 pct; 29.48 pct for Eurobank.
The general index was up 14.37 pct to shoot past the 1,000-point mark, closing at 1,006.59.
Turnover was an improved 86.77 million euros.
The Big Cap index posted an eyebrow-raising gain of 17.79 pct, the Mid Cap index ended 15.02 pct higher and the Small Cap index was up 12.62 pct.
All of the sector indices moved higher, with banks (29.12 pct), Financial Services (26.17) and Utilities (22.26) posting the biggest percentage gains of the day.
Broadly, advancers outpaced decliners by 171 to 13 with another 22 issues remained unchanged.

Sector indices ended as follows:
Insurance: +7.69%
Industrials: +11.62%
Commercial: +10.79%
Construction: +13.23%
Media: Unchanged
Oil & Gas:  +11.95%
Personal & Household:  +8.25%
Raw Materials:  +22.15%
Travel & Leisure:  +7.70%
Technology:  +13.89%
Telecoms:  +10.59%
Banks:  +29.12%
Food & Beverages:  +2.48%
Health:  +20.97%
Utilities:  +22.26%
Chemicals:  +8.75%
Financial Services:  +26.17%

The stocks with the highest turnover were National Bank, Bank of Cyprus and OTE.

Selected shares from the FTSE/ASE-20 index closed in euros as follows:
Alpha Bank:  2.47
Public Power Corp (PPC):  6.81
HBC Coca Cola:  14.94
Hellenic Petroleum:  5.80
National Bank of Greece:  3.59
EFG Eurobank Ergasias:  2.24
OPAP:  9.10
OTE:  4.49
Bank of Piraeus:  0.72
Titan:  13.96

Foreign Exchange rates – Tuesday
Reference buying rates per euro released by the European Central Bank:
U.S. dollar 1.470
Pound sterling  0.897
Danish kroner  7.562
Swedish kroner 9.252
Japanese yen  112.72
Swiss franc  1.200
Norwegian kroner 7.890
Canadian dollar  1.436
Australian dollar  1.385

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