|  
  |  
  |  
  |  
RSS
  |  
  |  
May 27, 2012
 
 
 
 
 
 

İMKB, European shares rally on Greece rescue

11 February 2010 / TODAY'S ZAMAN WITH REUTERS, İSTANBUL
The İstanbul Stock Exchange (İMKB) and other European markets surged on Wednesday on the hopes of a possible European Union rescue plan for Greece, with banks stronger and oil majors rising as crude prices rebounded.

The second session at the İMKB opened at 51,694.92 points on Wednesday. The benchmark index was up 219.08 points at the beginning of the second session over the closing of the previous session, where shares also gained 1.28 percent in value.

The FTSEurofirst 300 index of top European shares was up 1.2 percent at 993.01 points, on track to post its highest one-day percentage gain since Jan. 4. Banks were among the top gainers, with Barclays, HSBC, Société Générale, BNP PARIBAS and Deutsche Bank up 2.2 to 4.2 percent. Greek bank shares gained 7.9 percent while yield spreads between Greek bonds and German bunds tightened.

Expectations of a rescue plan for Greece were fuelled by comments from a senior German coalition source that European governments have agreed in principle to help the heavily indebted country.

 
Weather
City>>
ISTANBUL
Today Mon Tue
14C°
22C°
15C°
23C°
15C°
22C°