Stocks gained significantly on the last day of February on the Athens Stock Exchange, as foreign institutionals chased after banks.

The ASE general index closed at 3,145.16 points, a gain of 52.39 points or 1.69 percent, the highest closing level since May 28, 2001. So far this year, the index has risen 12.88 percent, including 7.71 percent in February alone.

The FTSE/ASE-20 index of blue chips gained 2.15 percent to close at 1,759.59 points. Mid-caps gained 0.64 percent, but small-caps declined 0.79 percent.

Banks profited from foreign investment houses’ optimistic appraisals of their growth prospects, which were based, in turn, on their fourth-quarter profitability. Alpha Bank gained most, leaping 4.84 percent to close at a new 52-week high of 29.04 euros. Merrill Lynch yesterday set Alpha’s target price at 33 euros. Piraeus Bank also set a 52-week high, rising 2.43 percent to 16.02 euros. Emporiki gained 3.71 percent to close at 24.60 euros, while National gained 2.20 percent, closing at 28.82 euros.

Other significant blue chip gainers were Coca Cola HBC (4.37 percent), CosmOTE (2.29 percent) and OPAP (1.61 percent).

Out of 344 traded stocks, 123 gained, 152 declined and 69 ended unchanged. Turnover reached 309.76 million euros.