The Greek stock market staged an impressive banking-led rally today, reclaiming the key psychological barrier of 2,000 points and erasing losses from the previous two sessions. Athens followed the upbeat trend seen across global markets, as investors welcomed news of an agreement to avert a U.S. government shutdown.
In Monday’s session (November 10), the General Index advanced 28.62 points, or +1.44%, to close at 2,015.51 points, near its intraday high of 2,021.89 points. The day’s low was 1,998.62 points. The Athens Exchange is now up +1.02% for the month, bringing its year-to-date gains to +37.14%.
Banks Lead the Rally
The banking sector spearheaded today’s advance, with the index rising more than 2%. Eurobank and Bank of Cyprus stood out, posting gains of up to 4%.
Among blue chips, Aktor jumped 6% to reach €9, hitting its highest level since January 2004 on the back of renewed energy contracts. PPC climbed nearly 2%, extending its 16-year high to the strongest level since September 2009. Viohalco also surged 3%, closing at a new all-time high near €9.50.
Scope Upgrade and Upcoming Results
Investor sentiment was further supported by Scope Ratings’ surprise upgrade of Greece’s outlook from “stable” to “positive”, maintaining the country’s rating at BBB. The move underscores continued confidence in Greece’s medium-term economic prospects. Fitch will conclude this year’s review cycle on November 14, with Greece currently rated BBB- and a positive outlook.
Meanwhile, National Bank of Greece traded ex-dividend today, following the announcement of an interim payout of €0.221 per share gross (€0.21 net), totaling €200 million, with payment set to begin on Friday, November 14.
Listed companies continue to report third-quarter and nine-month results. Bank of Cyprus, Aegean, and Optima Bank are due to announce figures on Tuesday, November 11. On Thursday, November 13, OTE, HELLENiQ ENERGY, and Austriacard Holdings will follow.
Next week’s schedule includes:
- Nov 17: ElvalHalcor, Lavipharm
- Nov 18: PPC, Trade Estates
- Nov 19: Motor Oil, Cenergy, Quest
- Nov 20: CrediaBank, Kri Kri, Ideal, Alpha Trust Andromeda
- Nov 21: Premia Properties
Euronext Adjusts Offer for ATHEX
Euronext has submitted a request to Greece’s Capital Market Commission to amend its voluntary public exchange offer for ATHEX Group shares, lowering the minimum acceptance threshold from 67% to 50% plus one share of total voting rights. The change aims to facilitate completion of the transaction. The offer period remains open until November 17, with all other terms—including the exchange ratio of 20 ATHEX shares for 1 Euronext share—unchanged.
Global Markets Lifted by U.S. Shutdown Deal
Global equities rallied after signs emerged of a deal to end the U.S. government shutdown. Senate Democrats eased their demands, paving the way for an agreement that would temporarily restore fiscal operations into early next year.
Wall Street opened higher, with the Dow Jones up 0.4%, the S&P 500 gaining 1.2%, and the Nasdaq jumping 2%.
In Europe, optimism over the U.S. developments sent markets higher. The Stoxx 600 rose 1.4%, Germany’s DAX climbed 1.7%, France’s CAC 40 added 1.3%, and the UK’s FTSE 100 advanced 0.9%.
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