Bank of Greece shares buck southbound trend
Not all Greek bank stocks fell on Tuesday – the central bank’s shares soared.
Bank of Greece is one of the rare central banks to be traded on a public bourse.
Its shares were up 15.8 percent on Tuesday, a day after gaining 8.5 percent, albeit from an opening low not seen since the late 1990s.
The Greek commercial bank index – which excludes Bank of Greece – fell close to 30 percent on both Monday and Tuesday as investors worried about recapitalization stemming from a flight of euros from deposits.
As a central bank, Bank of Greece has no recapitalization needs.
[Reuters]
