Greek Stocks Lead a Europe-Wide Rally
Should Investors Fear Foreign Contagion?
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European stocks rose, with equities from France to Germany and Spain rallying the most since 2012, on optimism that a deal between Greece and its creditors is close, and as deals activity intensified. Greek banks jumped the most since May 2013.
The Stoxx Europe 600 Index rallied 2.3 percent to 394.25 at the close of trading in London, with all its industry groups up. Greece’s ASE Index surged 9 percent, and a gauge tracking its banks soared 21 percent as Alpha Bank AE, National Bank of Greece SA and Piraeus Bank SA all jumped. Benchmark indexes of Germany, France and Spain climbed more than 3.8 percent.