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Athen Stock Exchange Rises +4.19: Markets “Vote” for Venizelos?

It looks as if markets vote for former Finance Minister Evangelos Venizelos in contrast to the Greek people. General Index of Athens Stock Exchange rose on Thursday and banks recorded a +5.26% increase, after strong pressure on three consecutive days, and after the leader of PASOK was appointed by the Greek president to lead exploratory talks in order to form a government.  

Athens Stock Exchange May 10/2012

After three declining sessions the Greek market attempts to move upwards, without being able to “forget” the post election… weights.

The banking index that received the strongest pressures in the previous three days, is now climbing up to 6,44%.

From the FTSE20 index, besides bank shares the profits of OTE (+6.44%) stand out.

“The GI ended 0.87 lower, for a third consecutive session and near day’s low with GI at 615.12. Some stabilization can be expected for today’s session”, said Beta Securities in a morning report.

 Most European stock markets ended slightly lower yesterday, as investors are worried about Greece’s future in the euro zone amid political concerns and banks tumble with [Spain’s Bankia in the lead]. Fresh turmoil in European Credit Markets, Gold ended below $1,600 lowest since December.

At the closure, the General Index stood at 640.91 points and +4.10%.

The banking index climbs 5.27% at 230.84 points.

The trading volume so far reaches 8.1 million units worth 7.9 million euros, while 61 shares traded upwards, 18 decline and 15 remain unchanged. (

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