The Greek stock market recorded its best daily performance in a “depth” of one month (from +1.37% on October 4), benefiting from the positive sentiment in the international markets, with Wall Street as the spearhead. The General Index closed at the high of the day and crossed 1,420 points – the resistance point until recently – with relative ease, making a 7X8 upward move and gaining +3.37% since October 30.

Specifically, in Monday’s (11/11) session, the GD gained 15.27 points or +1.08% to close at 1,428.40 points, its highest point in three weeks (October 21 – 1,438.72 points). It moved in a range of about 12 points, namely between 1,415.42 (daily low) and 1,428.40 (daily high). Within November the X.A. gained +3.31% and within 2024 +10.46%.

Trading activity was at a high level, boosted by the increased volume of packages, mainly related to systemic banks. A seventh day of rise for this sector, with the total gain exceeding +8%. Alpha Bank gained more than +4%, which was again the leader after Friday’s +5.4% gain.

Above €34 Coca-Cola, which hit a new high of at least 4.5 years. Among the day’s gainers were shares in Viohalco Group, with Cenergy Holdings again approaching 9 euros, the price at which the shares resulting from the €200 million rights issue last October were placed. Metlen, OTE, Aegean, HELLENiQ ENERGY, and Motor Oil also posted notable gains.

Positive momentum and the catalyst for the results

The 9-month results of the systemic banks and the generous dividend policy implemented by their managements – combined with the acceleration regarding the amortization of deferred tax (DTC) – gave a further boost to the domestic market today, with the new resistance point located at 1,430 points. The nearest support is located around 1,400 points.

The momentum remains positive in the markets in general following the election of Donald Trump to the US presidency, with US indices constantly breaking the “record”. As the analysts at Eurobank Equities explain, investors are assessing the prospects for economic growth after the election.

Third quarter and nine-month results are also reported this week by several listed companies, following announcements by three of the four systemic banks last week. Optima Bank was next today, followed by Bank of Cyprus on Tuesday. Wednesday (13/11) is followed by PPC and Lamda Development. A flurry of announcements on Thursday (14/11) with OTE, Aegean, HELLENiQ ENERGY, Austriacard Holdings, Lavipharm and Petros Petropoulos SA publishing their financials.

Without the right to the pre-dividend of approximately EUR 0.03 per share (dividend yield of 1.3%) Papoutsanis traded today. Payment will start on Friday 15 November. November contracts on the derivatives market expire on the same day.

New record on Wall Street – Positive sentiment in Europe

Historic highs on Wall Street, with the S&P 500 breaking the 6,000-point barrier and the Dow Jones breaking the 44,000-point barrier for the first time on record. In fact, the start of today’s session was bullish, with the Dow Jones up +0.9% and the S&P 500 up +0.2%. In contrast, the Nasdaq corrected 0.1%. A frenzied rally for bitcoin, which topped $82,000, with Trump’s victory working to the benefit of cryptocurrencies.

Up close, European stock markets are tuning in to the “euphoria” in the US. Most major indices are up more than +1%, with the pan-European Stoxx 600 trading +1.2%. Germany’s DAX and Italy’s FTSE MIB move higher by 1.4% and +1.6%, respectively, with the French CAC 40 at +1.2%.

Asian markets were mixed today, with new Chinese inflation data showing that it fell for a second consecutive month to a 4-month low. The Shenzhen Component closed up +2%, while in contrast, stocks in South Korea and Hong Kong lost more than -1%.