Finance Minister Yanis Varoufakis efforts to rally support for Greece have met with market euphoria shown on the Athens Stock Exchange. Even though Germany has yet to officially agree to Varoufakis’ proposals concerning the linkage of Greek debt with growth, the markets have shown positivity with hefty gains.

Meetings between bankers and Greek Deputy Prime Minister George Dragasakis on Monday also helped increase confidence. Eurobank saw its profits increase by 15.87% to 0.144 units, Alpha Bank saw a 15.76% rise at 0.38 euros, the national telecoms provider OTE saw an 11.51% rise at 8.56%, profits for 8.41% for EXAE at 5.48 euros.

Equity prices rose, with the basic share price index increased by 5.90%, standing at 799.96 points at 11 a.m. and turnover at 29.105 million euros.

The FTSE/ASE Large Cap index for blue chip and heavily traded stocks was up by 7.08%, and the FTSE/ASE Mid Cap index rose by 4.21%.

On individual sector indices, only Chemicals moved downwards (-0.10%). The biggest gains were in Banks (+11.50%), Telecoms (+8.02%) and Utilities (+5.09%).

54 of the stocks traded increased, 6 went down and 5 remained unchanged.