Today’s session on the Greek stock exchange was a mixed one, with trading opening with modest losses and the General Index approaching the psychological support level of 2,300 points, but gradually buyers took more initiative and, defying the cautious tone of the major European markets, turned the index into positive territory and kept it there until the close.
The “final say” came from the closing auctions, which saw the main ATHEX indices (GD, DTR, FTSE25) close at their daily highs, along with six large-cap stocks (detailed reference below).
For those who insist on focusing on statistics, both the GD and the DTR posted five consecutive sessions of gains, with cumulative gains of 6.17% and 8.31%, respectively, while today’s close of the general index marks a new 3.5-month high, with the immediately preceding high recorded on 2/12 (2,355.3 points).
Many index-weighted stocks “carried the weight” of today’s upward movement, but the “standout” of today’s session was none other than the PPC stock.
More specifically, 228,126,677 new (common) PPC shares, resulting from a capital increase via private placement, were listed for trading today. The total number of the company’s listed shares now stands at 597,396,677.
It should be noted that the PPC (+1.32%) was seen falling to 20.66 euros (-2.55%), but buyers stepped in to absorb the selling pressure and turned it around to a positive trend, notable gains and a new 214-month high, reaching a daily high of 21.96 euros (+3.58%), while accounting for 33.5% of the total gross trading value. All of the above served to confirm the views of market participants who argue that “the quality of the allocation in the recent rights offering is unprecedentedly high by domestic standards.”
With today’s listing of the new shares, PPC’s market capitalization reached €12.8 billion, which may affect the weighting the stock will have in the MSCI Greece Standard Index, and this will be taken seriously into account by active foreign portfolios operating on the Athens Stock Exchange that track this index.”
It remains to be seen whether the liquidity released by PPC’s rights offering will extend to other index-weighted stocks, aside from banks, and whether this broadening of interest will be sustained.
Of course, there are also those with a more optimistic outlook, who argue that if the index continues to close above 2,300 points, the trend will strengthen.
Turning to the Persian Gulf front,“the U.S. and Iran are discussing a plan under which the Strait of Hormuz will open approximately 30 days after an agreement is reached between the two sides to end hostilities,” a diplomatic source from the Middle East told the Japanese newspaper “Nikkei.”
Immediately afterward, the U.S. carried out strikes against Iranian missile launch sites and vessels which, according to Washington, were laying mines, a sign that the fragile truce between Washington and Tehran may be starting to be tested.
Next came the U.S. missile strikes, which were labeled “defensive,” further heightening investor concerns, and this was reflected in the price of Brent (+3.7%).
Returning to the Athens Stock Exchange, it is worth noting that today’s upward movement did not change the “big picture” of the market, as most of the positive performers were concentrated within the narrow range of large-cap stocks.
Notably, first-hour turnover exceeded 56 million euros (with 5 million euros in “block trades” of PPC, PIR, PPA), as during the first hour of trading, portfolios that had taken short-term investment positions in the PPC stock took their quick profits. Ultimately, today’s session saw the highest trading volume of the last three sessions, as most international markets—which were closed yesterday—returned to trading.
It is worth noting that the latest MSCI changes will take effect after the close of trading on Friday, May 29, at which point the rebalancing will take place and the changes will be implemented on June 2, 2026 (June 1 is a holiday), with the main development being the addition of GEKTERNA to the composition of the Standard Europe benchmark index. On the evening of August 12, 2026, announcements are expected regarding the next restructuring of the MSCI indices as part of the quarterly review.
Any changes to the FTSE Russell weightings will take effect on June 22, 2026 (rebalancing on June 19). The next announcement of the quarterly review is scheduled for August 21, 2026.
“Despite the new U.S. attacks in southern Iran, markets continue to price in a potential agreement and a gradual de-escalation of the crisis, supporting risk sentiment globally. Maintaining the GDX above 2,300 points brings the 2,350–2,380 point range back into focus as the key short-term target,”according to Kyklos Securities.
“Despite the recent recovery, investor sentiment remains fragile following the U.S. military’s ‘defensive’ strikes against missile launch facilities in southern Iran, developments that underscore the still uncertain geopolitical climate, while diplomatic efforts to end the conflict continue in Doha. In this context, we expect that the majority of market participants will adopt a cautious wait-and-see stance, with investors remaining selective, until there is greater clarity both on the geopolitical front and regarding the broader market direction.
Domestically, attention is expected to focus on PPC, as the company’s new shares began trading today, a development that is likely to attract increased investor interest and influence trading activity in the domestic market,”as Beta Sec notes in a purely descriptive manner .
Major European markets are showing mixed signals , with active traders monitoring U.S.-Iran negotiations, corporate earnings announcements, trends in energy prices, and yield trends in the bond market.
On Thursday, the Personal Consumption Expenditures (PCE) index —both monthly and annual figures for April—will be released; the Fed monitors this index to track inflation trends.
According to the economic calendar, the ECB’s upcoming meetings and announcements regarding its monetary policy are scheduled for June 11, July 23, September 10, October 29, and December 17, 2026.
The Fed’s corresponding meetings are scheduled for June 17, July 29, September 16, October 28, and December 9, 2026.
On the other hand,“market interest is no longer focused solely on the results of technology companies, but primarily on guidance regarding IT spending, demand for AI services, and the dynamics of corporate budgets in the second half of the year, with traders assessing whether major investments in AI are beginning to translate into higher revenues and improved margins,”as noted by Symeon Mavroudis (portfolio manager at Fast Finance SA).
Bond market yields are mixed . More specifically, the yield on the U.S. 2-year note has fallen to 4.06%, the yield on the corresponding 10-year note to 4.49% (the yield on the 30-year note is at 5.01%), while the yield on the Greek 10-year bond rose to 3.632%.
The General Index fluctuated between 2,303.55 (-0.65%) and 2,344.15 points (+1.10%). At 5:00 p.m., it stood at 2,341.34 (+0.98%) and closed at a new high of 2,347.55 points, with daily gains of 1.24%.
Turnover stood at 335.5 million, of which 50.1 million related to pre-arranged trades (BYLOT, BOCHGR, TITC, AKTR, PPC, PIR, PPA, PRONTEA, OTE, BEL, ETE, EUROB, ALFA), with DEI and PIR accounting for 47% of the total gross trading value.
Of the total turnover of 335.5 million, 308.7 million relates to transactions in FTSE 25 shares.