Without impressing, the Greek stock market closed in positive territory for a second straight day, boosted by banks. The profit taking that took place in some energy blue chips prevented further upside, resulting in the General Index closing far from the highs of the day and below 1,430 points, which it exceeded intraday.

Specifically, in Tuesday’s (3/12) session, the General Index gained 4.89 points or +0.34% to close at 1,429.22 points, hovering between 1,423.54 (low of the day) and 1,435.62 points (high of the day). The new rise came a day after the best daily performance in 13 months (November 14, 2023). The last two-day gains amounted to +2.56%, while the yield of the GD in 2024 “touches” +10.52%.

The banking sector emerged as an absolute protagonist -and today-, with Ethniki “climbing” by +3% returning above 7 euros. The rise was also strong for Eurobank and Alpha Bank. Jumbo, Aegean, ADMIE and Kri Kri were also strong. On the other hand, Metlen, OPAP, Autohellas, Sarantis and ElvalHalcor were under heavy pressure.

Year-end rally on the Xetra;

Positive signals from London continued the upward movement of the X.A., with banks taking center stage as they were no longer “tied” to the extraordinary tax that was speculated to be imposed on them. At the same time, according to analysts, there is increased supply in stocks approaching critical resistance levels, which are related to prices associated with recent placements or capital increases (e.g. National Bank 7.55 euros, Cenergy Holdings 9 euros).

The impressive December opening, which resulted in the best session in 2024, reinforces expectations for a year-end rally in the Xetra. The General Index comfortably returned above 1,400 points, with buyers adding around EUR 2.2 billion to the market capitalization, bringing it back above the EUR 100 billion milestone. Of course, the distance from this year’s record highs of 1,500+ points is still large and it will take buyers to break through to approach them again.

The definitive end put by Kyriakos Mitsotakis to the scenario of imposing an extraordinary tax on banks is beneficial for the domestic market. The prime minister explained that such a measure would not make sense, all the more so because of the cap on spending stipulated by EU rules, so any additional revenue of this type could not be used.

Today the Morgan Stanley and EFAE conference – where the Prime Minister made the relevant statements – concludes, with the key message of the first day being that Greece remains an investment destination that combines economic growth and a stable environment. There is also evident optimism about the enhanced profitability of banks and their increased dividends.

The next “milestone” is Scope Ratings’ verdict on the Greek economy next Friday. In its most recent rating (July 15), the German house upgraded the outlook to positive from stable, while keeping the credit rating unchanged at BBB-. Third-quarter GDP data are also expected from ELSTAT on December 6.

The mood in international markets is positive, as fears about the tariffs announced by Donald Trump are mitigated – even if only in the short term. Worth mentioning is the new record of the German DAX index, which moved intraday above 20,000 points for the first time ever. However, despite the upward trends, caution continues to be the dominant element in European stock markets, due to the political turmoil in France.

Buyers have the first say in international markets

Wall Street’s major indices are mixed today but remain close to record levels. The Cyber Monday session ended with a tech rally. Gains of almost 1% for the Nasdaq, which closed at a new all-time high. In the same pattern, the S&P 500 set a new record, securing its presence above 6,000 points.

The main European indices are making gains today, with the Stoxx 600 trading +0.32% around 515-516 points. Stock exchanges in Frankfurt, Paris, and London are up +0.2% to +0.6% (above 20,000 points for the DAX), and in Milan-Madrid are moving higher by up to +1.1%. Attention is focused on the political crisis in France, following the intention of Marine Le Pen’s party to table a motion of no confidence against Michel Barnier’s government in the wake of the latter’s move to “pass” the state budget without a vote in parliament.

Most Asian stock markets recorded positive signs. The Nikkei stood out with a “jump” of 700 points, or +1.8%. The Kospi index in South Korea also recorded a strong rise, as inflation rose to 1.5% in November, from 1.7% expected by economists.