Stocks in Greece Rebound From 2012 Low as Selloff in Banks StopsSofia Horta e Costa
Greek stocks rose for the first time since markets opened as banks rebounded after a three-day rout wiped out more than half their value.
National Bank of Greece SA jumped 27 percent, following a 62 percent tumble in three days. Attica Bank SA and Eurobank Ergasias SA climbed more than 17 percent.
The benchmark ASE Index added 3.7 percent to 666.68 at the close of trading in Athens, with more than two-thirds of its stocks up. The gauge tumbled 19 percent in the three days after the exchange reopened following a five-week shutdown, closing at its lowest level since September 2012 on Wednesday. A measure of Greek banks fell 64 percent in the period to its lowest level since at least 1995.
Trades were hampered because of emergency curbs put in place amid capital controls. For the first three days after the reopening of the Athens Stock Exchange, trading was halted if a share rose or fell by as much as 7 percent in 10 minutes. The exchange limits daily moves to 30 percent.
Would-be buyers have to raise money from places other than their bank accounts.
Greek stocks have given up almost 90 percent of their value since 2007.
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