Ase

The unexpected move by Italy's government to slap a windfall tax on local banks and Moody's downgrading of certain US banks affected European stock markets negatively on Tuesday, leading investors to sell shares and turn to government bonds. Athens followed.

Equity prices shot up on Tuesday on the Athens Stock Exchange (ASE), with the basic share price index up 3.05% at 663.49 points at 11 a.m. and turnover at 7.25 million euros.

Equity prices rose on Thursday on the Athens Stock Exchange (ASE), with the basic share price index up 0.91% at 649.10 points at 11 a.m. and turnover at 12.49 million euros.

The FTSE/ASE Large Cap index for blue chip and heavily traded stocks was up 0.75% and the FTSE/ASE Mid Cap index was up 1.32%.

By Roxana Zega

Greek equities rallied as euro-area finance ministers approved the nation?s package of new economic measures, paving the way for an extension of its bailout plan.

The ASE Index rose 8.5 percent to 927.13 at 4:30 p.m. in Athens, with a gauge of banks rallying as much as 16 percent. The ASE is set to close at its highest level since Dec. 8.

By Cecile Vannucci

Greek stocks advanced on optimism the nation will come to a bailout agreement with its creditors.

By Namitha Jagadeesh, Nikos Chrysoloras & Inyoung Hwang

Traders who got attached to bets that Greek financial markets will unravel are getting a lesson in politics.