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Greek bank stocks climb on hopes of EU aid package

ATHENS (Reuters) - Greek bank stocks gained 4.2 percent in late Monday trade on what traders said were expectations of a European Union aid package for Greece and covering of short positions.

“There are expectations the EU will proceed over the next period with some kind of economic aid for Greece, which may help tighten yield spreads,” said Takis Zamanis, trader at Beta Securities.

Shares of National Bank were up 4.57 percent with Alpha Bank gaining 4.17 percent.

“There is covering of short positions before an expected bond sale,” said Tania Gold, a banking analyst at UniCredit.

Reporting by Lefteris Papadimas and Harry Papachristou

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