An explosion of +14.3% in the ASE

The Index “vaulted” high today, with banking shares leading the jump, which recorded nearly a 30% profit.

The explosive growth of banks became easier as the ASE20 opened up long positions after the news of the merger between Alpha Bank and Eurobank.

This forced practice of the funds, in conjuction with the closing of the short positions, gave an explosive character to growth in unforeseen ways that investors had not seen even in 1999.

The General Index closed at 1006.59 points, recording an increase of 14.37%, ie a rise of 126 points in one session. Intraday, the Index even reached 1023 points.

After two o’clock the market hit its high points, as executives of Alpha Bank and Eurobank emphasized that profitability will continue due to the revenues of the new coalition.

All banking shares marked an increase of about 30%. National Bank reached 3.59 euros, with an increase of 29.14%, distributing the highest trades in total turnover.

Eurobank rose by 29.48%, Piraeus Bank by 28.5%, Cyprus Bank by 29.31% and Marfin Popular by 27.59%.

MIG earned 30%, the PPC gained 24%. Some high dividend yield stocks such as OPAP “lagged behind” with a gain of 7%, while Motor Oil closed at 12%. Mytilineos gained 25%, GEK-TERNA 27%, Titan 18% and Hellenic Petroleum 11.75%.