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Shares on the Athens Stock Exchange, meanwhile, were boosted by gains in Europe. Greek banking shares in particular were rallying after the government announced Friday it will sell state-run ATEBank in a no-cash transfer to Piraeus Bank, with its weak investments remaining under state control. The general index in Athens was up 1.9 percent at 597.57 points in early afternoon trading, with banking sector shares up as much as 8.74 percent. ATEBank's employees' association launched rolling 24-hour strikes to protest the deal. The Greek Federation of Bank Employee Unions, OTOE, went ahead with a 24-hour strike to protest cuts made under Greek austerity measures.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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