The Greek stock market remained on an upward trajectory for the third day in a row, with the General Index returning above 2,060 points for the first time since the end of last month. The domestic market was boosted by the outperformance of major overseas stock markets, especially Wall Street, which is exploring new highs. Additional positive catalysts are the dense business developments at home and the satisfactory first-half results of the listed companies.

Specifically, in Friday’s (12/9) session, the GC gained 22.43 points or +1.1% to close at 2,062.73 points, close to the daily high of 2,062.78 points. The day’s low was found at 2,044.38 points. This is the best close since August 27 (2,069.74 points), although it is still some way off the year highs (2,120-2,130 points). In the last three days, the index has gained +2.39%. And it has recorded its second consecutive weekly rise, gaining +1.96% in the five days. It is “running” at a +2.03% pace through September, while the yield through 2025 is +40.35%.

On the board, Bank of Cyprus (near the historic high of 7.9 euros) and OTE (a “breath” away from the 17 euros that pave the way for this year’s highs), among others, recorded notable rises. At EUR 8, Aktor reached a new 18-year high (November 2007). Cenergy Holdings matched its intraday historical record of 11.3 euros. The related Viohalco (2-year record – end of August, beginning of September 2023) and ElvalHalcor were also close by, with the latter extending its 17-year record (January 2008). CrediaBank continued to fly high for the third consecutive day, approaching EUR 1.6 for the first time since the November 2024 IPO.

Without the right to receive the dividend of EUR 0.07 per share (net amount) Attica Group was trading today. Payment of the dividend is scheduled to start on Friday, 19 September.

Today, the General Commerce and Industry announces its first-half financial results. Regarding next week’s schedule, it is as follows: Monday (September 15) Performance Technologies; Tuesday (September 16) Aegean and Noval Property; Wednesday (September 17) Cenergy, Lamda Development, and Europe Holdings; Thursday (September 18) Viohalco, Kri Kri, Profile, Lavipharm, and Hellaktor; Friday (September 19) Alpha Trust Holdings and Kekrops.

Buyers stepped on the gas

The banking index gained +1.41%, closing at 2,254.95 points. The FTSE 25 (high cap) was up +1.18% at 5,197.24 points and the Mid Cap (mid cap) was up +0.24% at 2,927.20 points.

On a weekly basis, banks “climbed” by +2.3%, the Large Cap gained +2.04% and the Mid Cap rose +1.09%.

The value of the transactions amounted to 218.38 million euros, of which 37.04 million euros related to packages. EUR 32.4 million turnover was generated by ETE, followed by Eurobank with EUR 29.6 million. The market capitalisation amounted to EUR 146,03 billion. The sign was positive for 84 stocks, negative for 27, while 11 stocks remained unchanged.

Among systemic banks, Piraeus rose +1.81% to 7.096 euros, followed by Alpha Bank (+1.41% to 3.517 euros), Eurobank (+1.36% to 3.288 euros) and Ethniki (+0.94% to 12.385 euros). Among other bank shares, CrediaBank gained +4.46% to EUR 1.594, Bank of Cyprus recorded a “jump” of +3.48% to EUR 7.74, while Optima bank fell -0.61% to EUR 8.14.

Foreign buyers slow down after record highs

Wall Street greeted the US inflation data, which was seen as mild and combined with a softening labour market, with a triple record, raising the chances of a Fed rate cut, rekindling investor interest. The Dow Jones reached a “ceiling” above the 46,000 mark, and the Nasdaq crossed the 22,000 mark. In today’s session, the Dow Jones is down -0.3%, the Nasdaq gains +0.3% and the S&P 500 records marginal changes.

European stock markets are mixed, with higher inflation in the US further boosting expectations for a Fed rate cut next week. The ECB kept interest rates unchanged at 2%, a decision that investors had already discounted. In today’s trading, the pan-European Stoxx 600 is up 0.1% at 556 points, the German DAX is almost unchanged at 23,700 points, the French CAC 40 is higher by 0.2%, and the UK FTSE 100 is up 0.1%. Most Asian bourses closed on a positive note, with Japan’s Nikkei index extending its all-time high, coming within striking distance of 45,000 points for the first time on record.