Eurobank Ergasias

ATHEX gains, but trade is very thin

he Athens Stock Exchange finally aligned itself with the positive turn on the European markets Tuesday, as it rebounded from Monday's significant losses to close 1.47% higher.

This rebound was achieved on very low turnover, which dropped below €30 million, a clear indication of investors' reluctance to see an upside.

ATHEX: Bourse grows 4.5% in one day

World markets were upbeat on Tuesday, following the announcement of bolstering measures by the central banks of the US and Japan, while expectations for an economic rebound starting in the second half of the year added to global stocks' upward swing. In Greece, Athinon Avenue enjoyed a day of significant gains that rose over the course of the day across the board.

Eurobank more than doubles Q1 earnings

Greece's third-largest lender Eurobank more than doubled its first-quarter net profit on the back of lower provisions for impaired loans and higher fee and commission income, it said on Friday.
Eurobank, which is 2.4% owned by the country's HFSF bank rescue fund, reported net earnings of 57 million euros, up from €22 million in last year's first quarter.

ATHEX: Rebalancing leads to jump in turnover

The upcoming rebalancing of the MSCI Greek stock indexes and profit taking after five consecutive days of gains led to losses at Athinon Avenue on Friday, with a huge daily turnover. Notably 70% of trading volume took placing during the closing auctions. The benchmark of the Athens stock market ended May with a monthly advance of 3.87%, though banks lost 2.94%.

Greece’s Eurobank more than doubles Q1 profit as loan-loss provisions drop

Greece's third-largest lender Eurobank more than doubled its first-quarter net profit on the back of lower provisions for impaired loans and higher fee and commission income, it said on Friday.

Eurobank, which is 2.4% owned by the country's HFSF bank rescue fund, reported net earnings of 57 million euros ($63.4 million), up from 22 million euros in last year's first quarter.

Banks eye state-backed credit

There is strong competition among banks for participation in the Guarantee Fund for the provision of state-subsidized liquidity to Greek enterprises, with 14 lenders expressing an interest in response to the invitation published by the Hellenic Development Bank.

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