A session marked by intense volatility took place today on the Greek stock market, which remained on a downward trajectory for a second consecutive day. Sellers maintained the upper hand throughout trading, stepping on the “gas” after 12:30, when Metlen announced a downward revision of its guidance for its 2025 financial results. The forecast for a 25% reduction in EBITDA triggered a double-digit drop in the stock, weighing on the overall market, with the ASE temporarily falling even below 2,310 points.

However, after 14:30, pressures on the domestic market began to ease, driven by the rebound in major international stock markets. As a result, losses in Athens were minimized, with the General Index closing near the day’s highs. It is worth noting that European markets have now moved into positive territory after an initially negative start, while Wall Street opened strongly with gains of over +1%, rebounding from the preceding three-day technology sell-off.

As for Friday’s session (6/2) on the Athens Stock Exchange, the General Index declined by 4.13 points or -0.17%, closing at 2,362.35 points. Indicative of the extreme volatility was the fact that the index moved within a range of 59 points, with a daily low of 2,309.74 points and a high of 2,368.75 points. Despite today’s decline, the General Index continues to post significant gains this year, amounting to +11.39%. At the same time, it recorded its eighth consecutive weekly rise, gaining +2.05% over the five-day period.

Metlen “plunged” by more than -13%, falling below €39, with turnover exceeding €100 million, as sellers rushed in following the update of management’s forecasts for 2025 results, which foresee a 25% drop in EBITDA. However, the company’s medium-term outlook remains unchanged for 2026, with EBITDA expected to range between €1.9 and €2.08 billion. On the opposite side, GEK TERNA and Coca-Cola HBC posted strong gains and new record highs, closing for the first time above €35 and €49, respectively. Banks also accelerated during the auction phase, recording gains of over +1%.

Abundance of Corporate Developments

GEK TERNA signed an SPA agreement for the transfer of part of its stake in the concession and operating companies of the Northern Crete Highway (BOAK), for the Chania–Heraklion section. This resulted in a new shareholding structure, with GEK TERNA holding 40%, Aktor 36%, and Metlen 24%. Construction will be undertaken by the new Terna–Aktor–Metka consortium, with stakes of 40%, 30%, and 30%, respectively.

National Bank of Greece entered the markets yesterday with a €500 million AT1 bond, perpetual (no maturity date), with a call option after 5.5 years. Demand proved strong, with offers exceeding €4 billion, and the final yield set at 5.8%. The transaction received a Ba3 rating from Moody’s.

Lamda Development received a binding offer for the sale of two plots of land for €41.5 million. The plots will be developed by the Centric–TEN Brinke consortium, with total investment estimated at approximately €100 million, for the construction of a residential complex at Hellinikon.

Finally, the government gave the “green light” for a €1 billion share capital increase at ADMIE, which will be carried out exclusively by existing shareholders—namely the Greek State, ADMIE Holdings, and State Grid—without the entry of a new strategic investor. The funds will be used to finance part of ADMIE’s investment plan, which amounts to €6 billion through 2030 and will increase to €7.5 billion by 2034.

International Markets Rebound

Wall Street has been going through a difficult period, coming off three days of heavy losses that were enough to push the U.S. market into negative territory for 2026. At the same time, the technology-heavy Nasdaq recorded its worst three-day drop since April last year, wiping out more than $1 trillion in value. However, major indices are rebounding today, with the Dow Jones standing out with gains of +1.5%. The S&P 500 is up +0.9%, while the Nasdaq gains +0.7%.

European stock markets are also rising, with the landscape shifting as buyers take control after an initially negative start. The pan-European Stoxx 600 is up +0.6%, Germany’s DAX gains +0.8%, the UK’s FTSE 100 rises +0.4%, and France’s CAC 40 advances by +0.3%.