The Athens Stock Exchange got off to a strong start right from the opening bell, with the General Index surging to a 17-year high. The domestic market is receiving a strong boost from the international investment climate, which is shaped by the historic peace agreement between the U.S. and Iran regarding the Middle East.
The conclusion of the deal, which calls for, among other things, the resumption of shipping through the strategically important Strait of Hormuz, sent the price of Brent crude into a free fall of more than -5%. This development sparked a rally in European stock markets, which opened with gains of more than +1%, pulling Athens Stock Exchange along with them.
The billboard on Athinon Avenue
During the session, the General Index rose by +2.04%, climbing to 2,471.20 points and gaining nearly 50 points compared to Friday’s close (2,421.69 points).
- Banking Sector: The banking index led the gains, rising +2.97% to 2,830 points. Eurobank stood out with a gain of +3.47% (4,204 euros), National Bank of Greece with +2.92% (15,355 euros), Piraeus Bank at +2.85% (9.308 euros – a new 5-year high), and Alpha Bank at +2.56% (4.046 euros).
- Blue Chips: Aegean Airlines «took off» to +5.34% (12.82 euros), buoyed by lower fuel costs. Titan Cement rose by +4.01% (54.8 euros) due to the decline in energy prices, while ELVALHALCOR posted strong gains of +4.92%. DEI reached a new 18-year high (+2.82% to 23.3 euros).
- Pressure on Refineries: Conversely, the decline in refining margins had a negative impact on Motor Oil (-1.81%) and Helleniq Energy (-0.59%).
The total market capitalization stood at 182.2 billion euros, reaching its highest level since December 2007.
In addition to the de-escalation of geopolitical risk in the Middle East, the Athens Stock Exchange is supported by strong domestic fundamentals (Q1 2026), corporate deals, and generous dividends. The intense activity on the capital-raising front (capital increases by PPC and ADMIE, bond issuances) reflects international interest, particularly in light of the Athens Stock Exchange’s imminent return to the Developed Markets.
However, analysts point out that the risks have not been completely eliminated. It will take time for energy and logistics prices to recover, inflation persists at the European level, and the ECB’s recent tightening of monetary policy is increasing borrowing costs. Furthermore, starting this fall, the country will essentially enter an election campaign period.
According to Beta Securities’ technical analysis, the new resistance zone is located at 2,450–2,460 points, while the 2,400-point level serves as the key support level. Given the short-term overbought conditions, a local correction cannot be ruled out in the coming days.
A highlight on this week’s agenda is the opening of the bid book for ADMIE Holdings’ €530 million capital increase. On the dividend front, Plastika Thrakis is trading as of today without the right to the supplementary dividend (0.17 euros), Prodea will follow tomorrow (€1.50), and Trade Estates on Thursday (€0.065). Finally, increased trading activity is expected on Friday due to the restructuring of the Stoxx and FTSE Russell indices, with CrediaBank’s stock being added to the FTSE Large Cap index.
