Investors dynamically returned to action on the Greek stock market, after a four-day break due to the Easter holidays and after two sessions of losses. The General Index closed at the day’s highs, surpassing 1,670 points, with banks acting as a “driver” of the rise.

Meanwhile, Athens kept its distance from other European markets, taking support from the surprise primary surplus announced by ELSTAT, and from the earlier Standard and Poor’s upgrade.

Specifically, in Tuesday’s (22/4) session, the General Index gained 29.96 points or +1.82% to close at 1,672.13 points, with the high of the day at 1,672.19 points and the low of the day at 1,644.55 points. This is the highest close in the last three weeks and specifically since April 3 (1,678.70 points), thus “trimming” this month’s losses. The index’s return is -0.78% in April and +13.78% in 2025.

The banking index “jumped” by more than +3%. Eurobank stood out with a +6% gain, followed by Alpha Bank at +4%. The blue chips also joined the “chariot” of the rise, with some of them locking or flirting with new records. Coca-Cola HBC was above 44 euros for the first time, while Athens International Airport (AIA) closed at a historic high, reaching 9.7 euros. Metlen also made significant gains, approaching its peak of 43 euros.

The double boost against Trump’s new pressures

Negative sentiment is prevailing in global markets as investors remain cautious about the impact of tariffs and are deeply concerned about the issue that has arisen regarding the independence of the Federal Reserve, following Donald Trump’s repeated attacks on US central bank governor Jerome Powell over the level of interest rates.

Domestically, according to data released today by ELSTAT, the primary surplus amounted to 11.401 billion euros or 4.8% of GDP in 2024, compared to 4.578 billion euros the previous year. The fiscal surplus is estimated at 3.181 billion euros or 1.3% of GDP. At the same time, the debt decreased by more than -10% and specifically stood at 153.6% of GDP from 163.9% in 2023.

On Good Friday, S&P Global Ratings issued a surprise upgrade of the Greek economy, giving a new air of optimism after FTSE Russell’s wait-and-see stance on the Athens Stock Exchange’s move to developed markets. Specifically, S&P upgraded Greece’s credit rating to “BBB” with a stable outlook, one “step” above investment grade. In doing so, the US agency confirmed the upward trend of the economy, considering that it will continue to exceed its fiscal targets. This is, in fact, the third upgrade in just one year.

Athens International Airport (AIA) will be trading tomorrow without the dividend entitlement of 0.7862 euros per share or 235 million euros. The dividend is scheduled to be paid on May 16. Shareholders also have the option to reinvest part of the dividend, i.e. up to EUR 0.333 per share.

Next Thursday, April 24, Metlen is due to publish its first quarter financial results, while a few days later, on April 28, the Capital Markets Day will follow, where some surprises are expected for shareholders, as announced by the chairman and CEO of the listed company, Mr. Evangelos Mytilineos. Next week, the announcement of the corporate results for the fiscal year 2024 will be completed.

Buyers return to Wall Street – losses in Europe

Sellers on Wall Street stepped up their moves after Donald Trump attacked Fed Chairman Jerome Powell for cutting interest rates in a clear attempt by the White House to politicize monetary policymaking and violate the central bank’s independence. Against this backdrop, the key indices took a fresh hammering, closing yesterday with losses of more than -2%. However, the scene is changing today, with the S&P 500 and Dow Jones gaining +1.6%, while the Nasdaq is higher by +1.8%.

Downward trends prevail in most European stock markets, which are affected by the turmoil on Wall Street. The pan-European Stoxx 600 is down -0.2%, trading at 505 points. The main indices of the Old Continent are down by more than -0.2%, while the British FTSE 100 is up +0.3%. The focus is on the joint spring meeting of the IMF and the World Bank, which takes place this week in Washington, DC. The International Monetary Fund has revised its forecast for the global economy, now calling for growth of 2.8%, down from 3.3% previously. The Asian markets moved at a low tempo, recording mixed signs.