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10:55GMT 18March2009-Alkane Energy gains after "excellent" results

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Shares in Alkane Energy gain 11.9 percent after the renewable energy company unveils a 21.5 percent increase in full-year revenues to 5.19 million pounds, with pretax profit up by 128 percent to 1.95 million pounds.

The company, which converts damaging methane emissions from abandoned coal mines into electricity, has 20 megawats of capacity equivalent in operation, and hopes to increase this to 50 megawats.

Broker Ambrian describes the results as excellent, and re-initiates coverage with a "speculative buy" recommendation.

"We feel that the company is well positioned to meet its aggressive growth targets," it says in a note to clients.

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10:47GMT 18 March 2009-National Bank of Greece up after results

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Shares in National Bank of Greece (NBG) gain 3.1 percent after Greece's largest lender posts 2008 earnings in line with market expectations.

After the market close on Tuesday, NBG reported a small 5 percent drop in profit to 1.54 billion euros in 2008 due to higher provisions and slower lending growth.

"A solid set of results in the midst of unprecedented, dismal operating conditions," HSBC Securities said in a market report. "NBG's results confirm our view of the bank being the sector's strongest fundamental play."

NBG's fall in profitability was the smallest among major Greek banks which are faced with a deteriorating macroeconomic enviroment in southeast Europe where they have expanded.

Reuters Messaging:lefteris.papadimas.reuters.com@reuters.net

10:47GMT 18 March 2009-National Bank of Greece up after results

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Shares in National Bank of Greece (NBG) gain 3.1 percent after Greece's largest lender posts 2008 earnings in line with market expectations.

After the market close on Tuesday, NBG reported a small 5 percent drop in profit to 1.54 billion euros in 2008 due to higher provisions and slower lending growth.

"A solid set of results in the midst of unprecedented, dismal operating conditions," HSBC Securities said in a market report. "NBG's results confirm our view of the bank being the sector's strongest fundamental play."

NBG's fall in profitability was the smallest among major Greek banks which are faced with a deteriorating macroeconomic enviroment in southeast Europe where they have expanded.

Reuters Messaging:lefteris.papadimas.reuters.com@reuters.net Keywords: MARKETS EUROPE STOCKSNEWS

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