The Greek stock market remained on an upward trajectory for the second consecutive day, with the General Index returning to levels above 2,020 points. The leading role was played today by industrial “papers”, in contrast to banks, which acted as a “weight” in a possible more dynamic rise. Investors focused on 9-month corporate results and the end of the US shutdown.
Specifically, in Tuesday’s (11/11) session, the General Index gained 8.93 points or +0.44% to close at 2,024.44 points. The index’s range of variation was set at around 10 points, with a daily low of 2,020.52 points and a daily high of 2,030.89 points. The gains of the HA amount to +1.47% within November and +37.75% within 2025.
Titan and ElvalHalcor led today’s gains, both recording “jumps” of more than +3%. In the case of the cement company, the high targets set by management for the next 4 years played a key role. GEK TERNA remained on a steady upward trend, which reached an intraday high of EUR 23.5 and reached a 26-year high (January 2000). Meanwhile, Aktor continued its “flights” above 9 euros and renewed its 22-year record (January 2004). Strong gains were also reported for Coca-Cola HBC and Cenergy Holdings.
9-month performance and rich business developments in the spotlight
Bank of Cyprus and Optima bank announced their nine-month financial results this morning. Aegean will follow later, after the close of the trading session. On Thursday 13 November, OTE, HELLENiQ ENERGY and Austriacard Holdings will be next. Next week’s schedule is as follows: Monday 17 November – ElvalHalcor, Lavipharm; Tuesday 18 November – PPC, Trade Estates; Wednesday 19 November – Motor Oil, Cenergy, Quest; Thursday 20 November – CrediaBank, Kri Kri, Ideal, Alpha Trust Andromeda; Friday 21 November – Premia Properties.
On the front of the voluntary public offer submitted by Euronext for the takeover of EFAE, the Securities and Exchange Commission approved its revision, which stipulates the reduction of the minimum acceptance requirement to 50% plus one share, from 67% previously. It should be noted that the revision of the public offer does not extend the acceptance period, which expires on November 17.
Titan is holding an Investor Day in Athens today, during which management will present the group’s new strategic growth plan entitled “TITAN Forward 2029”. The targets for the period 2025-2029 are annual sales growth of 6%-8% with the aim to reach EUR 4 billion by 2029, annual EBITDA growth of 11%-13% to reach EUR 1 billion by 2029, an increase in basic earnings per share (EPS) to EUR 5-6 per share, and total returns to shareholders of approximately EUR 500 million.
Tomorrow (12/11) the public offer for Lamda Development’s 7-year bond will start, with the process lasting until Friday 14 November. It is recalled that the aim is to raise EUR 500 million, while the yield range is set between 3.80% and 4.10%.
Technological correction in the US – Strong rise in Europe
The lifting of the US government funding impasse has improved sentiment in global markets. The Senate has given the green light to end the shutdown and now the bill to do so must pass the House of Representatives. If approved by that body as well, it will then be sent to Donald Trump for his signature.
Wall Street rose strongly in Monday’s session as the prospect of ending the longest government shutdown in US history brought relief to investors. However, sellers are returning to the US market, with tech stocks coming under renewed pressure, especially those related to the AI sector. The S&P 500 and Nasdaq are down -0.2% and -0.5%, respectively, while the Dow Jones gains +0.1%.
European bourses are on the rise, picking up speed as time passes, with investors digesting the latest developments regarding the US government shutdown. The pan-European Stoxx 600 index is up +1.1%, Germany’s DAX is up +0.4%, France’s CAC 40 is higher by +1.3% and Britain’s FTSE 100 is up +0.9%.
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