European ETFs rose after Greece’s Alphabank and Eurobank unveiled a plan to merge and create the country’s largest bank, ETF Trends reports. The Athens General Stock Exchange rose 15% after the news.
The iShares MSCI EMU Index Fund as well as the Vanguard European ETF was up 2.7%. Funds tracking the U.K., France and Germany were affected the most. Post-merger, Qatar will back the bank and control about 17% of the merged entity.
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