Returning to positive territory for the Greek stock market, after yesterday’s “brake” on the 5-day rise that preceded it. Traders are “weighing” the Q3 and 9-month financial performance of systemic banks, as well as subsequent management statements on upgraded annual guidance, increased dividends and faster deferred tax (DTC) amortization.

Specifically, in Friday’s (8/11) session it gained +0.29% and traded at 1,412.59, with a day high of 1,414.92 and a day low of 1,408.42. The General Index is headed for its second weekly gain, as it rises +1.3% excluding today’s session. A five-day rally for banks, with the cumulative rise estimated at +5.66%.

At 1,420 points is the next resistance point. According to certified technical analyst, Mr. Petros Steriotis, “the target remains the weekly close above the 200-day simple moving average at 1425 points, with the next resistance at 1445. Critical support is offered by 1375 points, the loss of which would worsen the psychology and turn attention towards the August lows.”

Optimism prevails in international markets due to the interest rate cuts initiated by the US (Fed) and UK (BoE) central banks. The euphoric mood on Wall Street remains after Donald Trump’s re-election as US president. New all-time highs for the S&P 500 and Nasdaq, with the former approaching the 6,000-point milestone.

Alpha Bank completed the batch of announcements for the 9-month results of the systemic banks today. Specifically, Alpha Bank achieved a recurring profit of EUR 666 million, up 16.5% year-on-year. In addition, management upgraded – for the second time this year – its earnings per share forecast to EUR 0.34 (from EUR 0.33 previously) in 2024.

They were preceded on Thursday by Eurobank and National Bank. The former posted a net profit of 1.145 billion euros, upwardly revising its dividend payout to 50% from 40% previously for the 2024-2025 financial year. At the same time, the public offer for the full acquisition of Hellenic Bank is entering the final stretch.

In the case of ETE, organic profit after tax reached close to EUR 1 billion, with annual growth of 15%. Up to 50% distributions to shareholders for 2024 earnings. Both committed to accelerate the amortisation of deferred tax (DTC). For its part, Alpha Bank announced zero DTC in 2033.

Next week’s agenda is rich, with Optima Bank on Monday (11/11), Bank of Cyprus on Tuesday (12/11), PPC and Lamda Development on Wednesday (13/11) and OTE, Aegean, HELLENiQ ENERGY, Austriacard Holdings and Lavipharm on Thursday (14/11). Many listed companies have changed their schedules and are announcing their results earlier. The acceleration of their financial performance releases is partly due to the big roadshow organised by the HSE in London on 25 November.