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Tuesday, 08/26/2014 8:56:28 AM

Tuesday, August 26, 2014 8:56:28 AM

Post# of 19165
National Bank of Greece (ADR) (NYSE:NBG) added 2.62%, extending gains following a rise in Greek stocks. The benchmark index of the Athens Stock Exchange closed 0.25 percent higher on Monday, reaching 1,159.25 points and chalking up a fifth consecutive day of gains. During that period, the general index has delivered combined gains of 6.7 percent.

In economic news, Greece plans to reopen its recent three- and five-year bond issues in the next two weeks, to top them up by as much as 1.5 billion euros ($1.97 billion), accepting T-bills as payment instead of cash, a senior government source told Reuters. The debt exchange is aimed at improving the functioning of the secondary bond market, boosting liquidity and tightening spreads. By retiring up to 1.5 billion euros of outstanding T-bills, Athens will also have the margin to reissue the same amount in new 12- or 18-month T-bills. Its outstanding stock consists of 3- and 6-month T-bills.

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