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At an almost 2-month high, with a two-day rally +4% in banks | TheGreekDeal.com
Athens Stock Exchange
At an almost 2-month high, with a two-day rally +4% in banks
The Athens Exchange managed to return above 1,450 points (for the first time since August 1), but also to break out of the narrow range of 1,400-1,450 points (for the first time after 29 consecutive sessions).
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The Athens Exchange managed to return above 1,450 points (for the first time since August 1), but also to break out of the narrow range of 1,400-1,450 points (for the first time after 29 consecutive sessions).

With the banking index as its main "weapon", which woke up from its slumber and provided significant support, the Greek market showed signs of life (turnover of more than 100 million for two consecutive days), allowing traders to believe again in the scenario of convergence with the "tops" of 1,502 points.

Undoubtedly, the upcoming placement in the National Bank was the "X" factor, as the potential success of the deal (it will involve 10% to 12% of the shares) will send another optimistic message to the investment community, at the same time as foreign stock markets continue to climb to historic highs. 

Specifically, in the second session of the week, the General Index posted a remarkable 0.80% increase to 1,454.10 points, gaining 11.5 points compared to Monday's close (1,442.53 points).

The arc of daily fluctuations was fixed at nine points (from 1,445.25 to 1,454.31 points), with a turnover of 145 million euros, of which 20.7 million euros were pre-agreed packages. 

The banking index continued its recovery as it gained +1.60% to 1,269 points, extending its cumulative two-day rise by more than +4%.

NBG shares ended up +2.67% and 7.70 euros, Piraeus' shares rose +1.01% and 3.91 euros, Alpha's shares followed at +1.25% and 1.62 euros, while Eurobank's shares traded +1.22% and 2.07 euros.

In the high-cap index (+1.01% and 3,536 points), Metlen's shares rose dynamically to +2.5% and 35.9 euros (4×4), improving the valuation to 5.1 billion euros. Titan Cement shares also gained 2.4%, approaching the historic high of EUR 33.7. Cenergy, Jumbo, Viohalco, GEK Terna and PPC rose more than 1%, while up to +0.9% were followed by Elvalhalcor, AIA and Lamda. On the flip side, OTE shares, which on Monday hit new year highs (EUR 15.6), retreated slightly to -0.3% and EUR 15.5. Shares of Helleniq Energy and Coca-Cola fell by 0.7% and 0.8%, respectively.

As for the mid-cap index (-0.02% and 2,341 points), Profile shares, after climbing to an all-time high of EUR 5.4, retreated to -1.4% and EUR 5.3. Dimand, Lavipharm, Quest, EYATH shares also showed losses of more than 1%. At the same time, Intralot - Kri Kri - Fourlis - Thrace Plastics were down 0.5% to 0.7%. On the contrary, Trade Estates and AVAX shares gained 1.5%, with ADMIE shares closing +0.44% and coming within a breath of EUR 2.3.

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