Greek shares edge higher in late morning trade, led by banks |
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Mon, 15 Jan 2007 10:39
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ATHENS (AFX) - Shares were edging higher in late morning trade, and led by the banking sector on prospective mergers and acquisitions news and as several stocks resumed trading today, brokers said.At 11.20 am the ASE general index was 0.3 pct higher at 4,628.8 and blue chips were 0.3 pct higher at 2,526.4. Mid caps were up 0.5 pct to 5,412.9 and small caps were up 0.5 pct at 893.6.The ASE decided to lift the trading suspension in shares of Marfin Popular Bank, Marfin Financial Group, Egnatia Bank, Bank of Piraeus and Bank of Cyprus.The trading suspension was imposed because of concurrent public offers by Marfin Popular Bank for Bank of Cyprus and Bank of Piraeus, and another by Bank of Piraeus for Marfin Popular Bank.Bank of Piraeus was up 2.8 pct to 26.24 eur and Bank of Cyprus had risen 3.9 pct to 11.56 eur because the Cypriot Capital market has approved the offer by Piraeus but has given Marfin Popular Bank until Wednesday to prove its public offers are not defensive moves. Marfin Popular Bank had dipped 2 pct to 8.8 eur on the same news.Betting technology company Intralot was up 0.9 pct to 27.86 eur after it said that it had acquired 50.1 pct of Argentinean lottery systems provider Techno Accion for 11 mln usd.National Bank of Greece was 0.5 pct higher to 36.98 eur on news that it is interested in two banks in Ukraine.Source: Euro2day.gr NewsWireskrekas@euro2day.grns/jsaCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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