Sellers made a reappearance on the Greek stock market after a positive start to November, with the climate of uncertainty abroad also affecting Athens. However, it showed signs of resilience, closing off the day’s lows and above the 2,000 mark, which had been breached (again) intraday. Banking stocks were a “heavyweight”, with the sectoral index losing more than -1%.

Specifically, in Tuesday’s (4/11) session, the General Index fell 10.21 points, or -0.5%, to close at 2,013.59, which was the high for the day. The low for the day was found at 1,993.73 points. At +37.01%, the XA yield through 2025.

The sellers’ dominance on the board is total, with the negative-to-positive securities ratio estimated at around 9 to 2. Eurobank, Piraeus, Alpha Bank, HELLENiQ ENERGY, AIA, and Intralot recorded strong losses of around -2%. PPC, Metlen, and OTE resisted as they gained more than +1%, with the former moving further towards EUR 16, renewing its 16-year record (September 2009). It is also worth mentioning that today, shortly after 12:00, four packages were passed to Aktor for 7.7 euros per share (750,000 pieces for a total value of 5.775 million euros). Yesterday, another package had changed hands at the same price (375,000 pieces worth 2.88 million euros).

Corporate performance, dividend distributions, and MSCI in focus
Since its start, November has been characterised by strong volatility and is a key month as investors liquidate some of their excess capital ahead of MSCI and the close of the current financial year. As analysts note, the market remains attractive to international investors and is in a maturing and rebalancing phase, with volatility being an integral part of this evolution.

It is noted that next Thursday, November 6, Eurobank will trade without the right to receive the interim dividend of €0.04681 per share (€170 million), followed by the payment on Wednesday, November 12. An interim dividend will also be distributed by the National Bank of Greece. The cut-off is set for November 10, and the payment for November 14. This will be preceded on Wednesday (5 November) by the cut-off of the right to BriQ Properties’ interim dividend of EUR 0.08 per share (EUR 3.68 million), with the possibility of reinvestment, and the payment will follow on 27 November.

In the Q3 and 9-month results calendar, National Bank, Metlen, and Titan announce their financials on Thursday (6/11), followed by Alpha Bank on Friday (7/11). Next week, on 11 November, Aegean, Bank of Cyprus, and Optima bank take their turn, and on 13 November, OTE and HELLENiQ ENERGY.

Tomorrow (5 November) evening, the results of the six-month rebalancing of the MSCI indices will be announced. The changes will take effect on November 24 after the close of the trading session. The effective date is 25 November. It is recalled that the following 9 stocks are currently included in the main index (MSCI Greece Standard Index): National Bank, Eurobank, Eurobank, Piraeus Bank, Alpha Bank, OPAP, OTE, Metlen, PPC, and Jumbo.

On Friday, November 7, German Scope Ratings will proceed to rate the Greek economy, which it currently rates “BBB” with a stable outlook. One week later, on November 14, US-based Fitch (“BBB-” with a positive outlook) will announce its verdict, closing the cycle of ratings for 2025.

In other corporate developments, Eurobank came to the markets with a EUR600m Additional Tier 1 (AT1) bond with an interest rate of 6.25%, up from 6.625% in the initial offering. Demand was strong and reached EUR 2.8 billion. The issue was oversubscribed almost 4 times, and participation from foreign investors accounted for 91% of the offering book. Alpha Bank completed the acquisition of AstroBank by its subsidiary Alpha Bank Cyprus, marking the final milestone of the deal originally announced in February 2025.

In a bout of liquidation in international markets

Wall Street is looking negative as investors weigh mixed corporate results and warnings of excessive valuations in AI stocks. A “bell has been rung” by the CEOs of Goldman Sachs and Morgan Stanley, who are calling for a correction of up to 20%. Technology stocks are under heavy pressure, driving the major indices lower. Notably, the Dow Jones is down -0.2%, the S&P 500 is down -0.6% and the Nasdaq is down -0.9%.

European stock markets are also in the red, correcting after the recent positive run. The pan-European Stoxx 600 index is down -0.4%, Germany’s DAX is lower by -0.8% and France’s CAC 40 is down -0.7%. In Asian markets, Japan’s Nikkei and South Korea’s Kospi “landed” sharply from their all-time highs, retreating -1.7% and -2.4%, respectively.