Greek Markets Surge After Bailout Extension Approval

February 25, 2015 2:02 AM

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Greek Markets Surge After Bailout Extension Approval

Athens’ main stock exchange closed almost 10% higher on the day, primarily led by banks. Shares in Piraeus Bank SA closed up by 20%, while National Bank of Greece SA and Alpha Bank AE shares finished up by 17% each, topping the pan-European Stoxx Europe 600 index.

Greek bonds also jumped, particularly those with shorter-term maturities. Debt issued by the country that matures in 2017 now yields around 12%, approximately four percentage points lower on the day, while bonds due in 2019 offer around 10.7%, over three percentage points lower on the day. Yields fa...

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