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Monday
Aug292011

Greek Equities Have Biggest Gain in More Than 20 Years

DateMonday, August 29, 2011 at 10:15AM

It has been a good day for Greece.  The Athens Stock Exchange General Index is up 15% today following news that two of the country's largest banks will merge to create Greece's largest bank.  The last time equities in Greece had a better day was on 12/11/87 when the benchmark index was up 27%.  Even after today's rally, though, Greece's benchmark index is not even trading at a two-week high and is down 28% year to date. 

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