Return to gains for the Greek stock market, after a three-day losing streak that cost it more than -2.1%, although the General Index lost its initial momentum, closing off the day’s highs and below 2,030 points, although it exceeded them intraday.

Specifically, in Thursday’s (18/9) session, the GD gained 7.78 points or +0.39% to close at 2,027.04 points, close to the daily low of 2,024.11 points. The daily high was found at 2,034.12 points. The index is gaining +0.26% in September, with its performance since the start of 2025 reaching +37.92%.

On the board, Cenergy Holdings stood out with a +4.5% “jump” and closed near EUR 11.8 at a new all-time high, boosted by strong first-half results, where sales exceeded EUR 1 billion, net profit rose +65% and EBITDA +43%. CENER’s rally benefited the parent company, Viohalco, which renewed its two-year high (August 2023), taking another “step” closer to EUR 7.

Buyers in search of new catalysts – Long-term uptrend in force

“”Tired” looks like the General Index after the outperformance of the first eight months of this year and while it has started the balance exercises around 2,000 points. Overall, the six-month fundamentals and large-cap guidance are satisfactory, but do not seem to be sufficient – for now at least – for the immediate continuation of the five-year rally,” notes Mr. Petros Steriotis in his weekly commentary on the Athens Stock Exchange.

“In search of new positive catalysts, potential buyers, while those who gained excess profits are probably not… burning to wait for the next records. Friday’s writing was critical, both in terms of transactional interest (derivatives expiration, index restructuring) and in terms of news (“oracle” Moody’s).

On Wall Street, after the much-discussed and completely discounted Fed move, the already “stretched” markets are being asked to continue “autopilot” or at least discover yet another miracle of artificial intelligence. Here it is important to note that valuations in the Greek CA and the general psychology of our market, fortunately, differ significantly from the trends of excessive euphoria that many are now seeing in New York”, says the member of the British Federation of Technical Analysts, and concludes:

“Returning to the General Index, the long-term uptrend remains in place. After all, this year’s +38% speaks for itself. In the event of a further pullback, the key will be a buyer reaction in the price zone starting at 1,990 and ending at 1,950 points.”

Awaiting rebalancing in FTSE and Stoxx – The results agenda

Attention remains focused on the first-half financial performance of listed companies. Viohalco, Kri Kri, Profile, Lavipharm, and Hellaktor will make announcements today, while on Friday (19/9) it is the turn of Plastic Thrace, Alpha Trust Holding,s and Kekrops. As for next week’s schedule, it is as follows: Monday (22/9) Alumil, Wednesday (24/9) ADMIE, Lanakam, Thursday (25/9) EYDAP, ABAX, POTH, Mathios Pyrimacha, Loulis Food Ingredients, Elton, Fais Group, Sidma Metallurgical, Alter Ego Media, AS Company, Safe Bulker,s and Friday (26/9) CrediaBank, Premia Properties, Trastor AEEAP, CPLP Shipping Holdings, Biocarpet, EVATH, Revoil, Q&R, Alpha Real Estate, Interlife, Logismos, Evrofarma, Mermeren Kombinat.

Mermermer Mermermer Mergers & Acquisitions.

A restructuring of the indices in the FTSE Russell is scheduled for the end of this week, with the changes coming into effect from Monday 22 September. Bank of Cyprus is being added to the FTSE Emerging Europe Large Cap Index and ElvalHalcor to the Mid Cap. Metlen will be included in the UK FTSE 100, as well as the European FTSE EuroMid.

In addition, rebalancing will take place in the Stoxx indices, where Eurobank will be included in the Stoxx Emerging Europe Large Cap, Titan and AIA in Mid Cap, Aktor in Small Cap and Petros Petropoulos will be added to Micro Cap. Coca-Cola HBC will be included in the Stoxx UK 50.

Triple expiry in September derivatives (triple witching) for equities and indices is also to take place. On the same day (19 September), Moody’s is scheduled to rate the Greek economy, with no particular expectations for surprises. The American house rates the country with “Baa3” and a stable outlook.

Fed and Nvidia-Intel push Wall Street towards new records

Wednesday’s session on Wall Street was low-tempo as the market had discounted a 25 basis point rate cut by the Fed to the 4% to 4.25% range, the lowest level since late 2022. However, investors didn’t get to enjoy the first cut for 2025 as central bank chairman Jerome Powell kept the bar low on expectations for any further cuts. Back to gains today for the major indices, with the S&P 500 and Nasdaq rushing full speed ahead to new all-time highs, gaining +0.8% and +1.1% respectively, “propelled” by the historic $5 billion deal between Nvidia and Intel.

European stock markets are on an upward trajectory, where sentiment is boosted by signs of further interest rate cuts by the Fed this year, reversing recent profit-taking moves. The Bank of England kept interest rates unchanged at 4%. The pan-European Stoxx 600 is up +0.9% at 555 points, the French CAC 40 gains +1.1% and the German DAX moves higher by +1.4%.

Most Asian bourses are positive, with Japan’s Nikkei and South Korea’s Kospi gaining more than +1% to close at new all-time highs. In contrast, Chinese indices fell by more than -1%.