Alpha Bank, Eurobank, Folli-Follie, NBG: Greek Equity Preview
The following stocks may be active in the Greek market. Symbols are in parentheses after company names and prices are from the previous close.
The benchmark ASE Index rose 21.18, or 1.4 percent, to 1,591.23. The FTSE/ASE 20 Index of the country’s biggest companies advanced 1.3 percent to 738.71 and the Cypriot General Index gained 1.1 percent 1,177.02.
National Bank of Greece SA (ETE GA): Lars Feld, a member of German Chancellor Angela Merkel’s council of economic advisers, said a restructuring of Greek debt is “necessary,” Frankfurter Allgemeine Sonntagszeitung reported, citing an interview.
Separately, Greek Finance Minister George Papaconstantinou said there’s no official proposal to extend the maturity of European Union loans to Greece and Ireland to 30 years, Ta Nea newspaper reported, citing an interview.
Shares in Greece’s largest lender gained 4.8 percent to 6.97 euros. EFG Eurobank Ergasias SA (EUROB GA) shares were unchanged at 4.20 euros. Alpha Bank SA (ALPHA GA) stock rose 1.7 percent to 4.20 euros.
Folli-Follie Group (FFGRP GA): The Greek retailer had its share price estimate raised to 14.40 euros from 12.30 euros at Piraeus Securities. The stock dropped 0.3 percent to 14.80 euros.
Trastor Real Estate Investment Co. (TRASTOR GA): The real estate investment trust posted a full year net loss of 4.8 million euros ($6.54 million), according to an Athens bourse filing. The stock was unchanged at 76 euro cents.
To contact the reporter on this story: Tom Stoukas in Athens at email@example.com