ATHEX: Banks send main index soaring

The announcement by the Greek prime minister in London that the government has no intention to impose an extraordinary levy on banks' profits gave a major boost to credit sector stocks on Monday. This carried along the rest of the stock market, with the index climbing more than 2% on the day, with increased turnover too. Mid-caps, however, found it a little more difficult to follow the blue-chip rally.

The Athens Exchange (ATHEX) general index closed at 1,424.33 points, adding 2.21% to Friday's 1,393.49 points. The large-cap FTSE-25 index expanded 2.83%, ending at 3,386.39 points.

The banks' index advanced 4.67%, as Eurobank soared 5.60%, Alpha rose 4.94%, Piraeus earned 4.76% and National collected 4.17%. Metlen improved 3.73%, ElvalHalcor obtained 3.43%, Viohalco fetched 3.09%, PPC augmented 2.79% and Titan Cement rose 2.71%.

In total 61 stocks boasted gains,...