The Greek stock market managed to absorb the shocks it received during the intra-session, resulting in extending its 14-year high. The consolidation moves in bank shares, coming from multi-year record highs, were not able to “throw” the General Index below the recent 1,600 points.

Specifically, in Friday’s (14/2) session the GC strengthened by 3.32 points or +0.21% to close at 1,604.29 points, which was the high of the day. The low for the day was found at 1,594.19 points. This was the best close since March 28, 2011 (1,611.51 points). At +9.16%, the index now stands through 2025.

This was the 8th consecutive week of gains for the HA, gaining +2.98% since last Friday. In doing so, it “broke” the record of 7 consecutive up weeks held from January 19 to March 8, 2024. According to Beta Financial’s data, “the rally in the domestic market has now completed 8 consecutive upward weeks, a phenomenon that has occurred 4 other times in 25 years.”

Today some new securities surfaced, in the context of the rotation of the protagonists that sporadically feed the domestic market with additional “fuel”. OTE, Motor Oil, and Optima Bank were among the blue chips that stood out with their gains. Aktor rallied more than +5%. On the other hand, National Bank fell more than -2%, correcting from 9-year highs, while on the other hand, Alpha Bank gained more than +1% extending its 5-year record.

Bank consolidation was not enough

The banking index lost 0.48% today, closing at 1,451.90 points, correcting from more than 9-year highs. The FTSE 25 (high cap) was marginally up +0.06% at 3,924.54 points and the Mid Cap (mid-cap) moved higher by +1.02% to 2,553.03 points.

The value of the transactions amounted to 114.27 million euros, of which 5.82 million euros were related to packages. The market capitalisation now stands at EUR 112.666 billion. The sign was positive for 68 stocks, and negative for 36, while 19 stocks were unchanged.

Among systemic banks, Ethniki slipped -2.14% to EUR8.416 and Eurobank lost -0.65% to EUR2.444. Conversely, Alpha Bank gained +1.19% to 1.8695 euros and Piraeus gained +0.26% to 4.672 euros.

In the high capitalization, Optima bank rose +3.29% to EUR 13.8 (historical high). OTE followed with a +2.38% gain to 15.07 euros. Motor Oil (+1.98% to EUR 22.64), HELLENiQ ENERGY (+1.46% to EUR 7.985) and Viohalco (+1.03% to EUR 5.86) were up by at least +1%. On the other hand, Jumbo (-1.44% to EUR 27.38), OPAP (-1.17% to EUR 16.85) and Cenergy Holdings (-0.94% to EUR 9.46) fell significantly.

In the mid-cap sector, Aktor “climbed” by +5.75% to EUR 5.33, with a turnover of more than EUR 2.3 million. Technical Olympic (+2.34% at EUR 2.62), ADMIE (+2.15% at EUR 2.85 – new all-time high), HKE (+1.4% at EUR 5.07), PPA (+1.36% at EUR 33.6 – new all-time high) and ABAX (+1.18% at EUR 2.15 – new 15-year record) also rose remarkably.