Dec. 29, 2014, 12:00 PM
- The National Bank of Greece (NBG -8.8%) has dived towards its 52-week low of $1.76 after politicians failed to elect a president in today's vote, thereby triggering an early-2015 snap election that could potentially bring the anti-bailout Syriza party to power.
- Over in Frankfurt, Alpha Bank (OTC:ALBKF) is down 6.1%, and Eurobank Ergasias (OTCPK:EGFEY) is down 7.3%. The Athens exchange is down 3.9%.
Oct. 27, 2014, 3:32 PM
- National Bank of Greece (NBG -6.7%) failed the ECB stress test, but was not on the list of those needing to raise capital as the exam was based on how things stood at the end of 2013 (how's that for timeliness?) and the bank has already taken care of this issue.
- Nevertheless, the stock is tumbling again today, and now off about 50% YTD. It also happens to be the largest component of the GlobalX FTSE Greek 20 ETF (GREK -3.5%).
- Also failing the test, but not needing to raise any more capital are Piraeus (OTCPK:BPIRY -1.8%) and Eurobank (OTCPK:EGFEY +5.6%).
- Previously: Skeptical markets hit sell button on EU lenders
Aug. 29, 2011, 8:10 AMIt appears they like the news... Greek shares sky on the merger and planned recapitalization of the country's 2nd and 3rd-largest banks; the Athens General Index +14.3%. For perspective, the index has fallen more than 50% the last 6 months. Not part of the merger: National Bank of Greece (NBG) +30% premarket. | 1 Comment
EGFEY vs. ETF Alternatives
Eurobank group is a European banking organization with total assets of 73.6 bn, offering universal banking across eight countries. Eurobank is Greeces second largest bank. It holds lead positions in Bulgaria, Romania and Serbia, offers Wholesale Banking and Wealth Management services in Cyprus,... More
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