Three months after the outbreak of the crisis in the Middle East, the Greek stock market has revealed clear winners as well as “losers” of the geopolitical turmoil. From February 27 through yesterday’s close on May 26, investors primarily rewarded stocks that made “news,” while, conversely, shares linked to international developments came under heavy pressure.
At the top of the gainers was AustriaCard, which rose by 32.74%, closing at €9.69 from €7.30 before the crisis. This was, of course, driven by the public tender offer at €10 from DNP.
Next is EYDAP, up 32.14% to €10.36, very close to its 2026 high of €10.70. The story here was driven by GEK Terna’s entry into the water utility’s share capital.
For ADMIE, the upward trend began in recent trading sessions and is linked to the planned capital increase of one billion euros. Cumulatively for the quarter, it has posted gains of 28.97%. It is now trading at €3.94, which is this year’s high.
Viohalco is also performing strongly, recording a 27.69% rise to €20.15, essentially at its 2026 high (€20.15), with the market pricing in the benefits of the sharp rise in international metal prices.
Lavipharm follows with a 27.45% gain to €1.69. It has been boosted by drug agreements, such as the one with Durogesic.
Performance Technologies is up 24.87% to €9.49, while other major gainers include Ballys Intralot (+24.34% to €1.17), EKTER (+19.23% to €4.65), GEK TERNA (+19.18% to €43), Ideal Holdings (+17.35% to €6.90), and HelleniQ Energy (+14.98% to €10.13).
The Losers
On the other hand, the heaviest pressure is on Allwyn’s stock , which is down 19.75% to €12.68 from €15.80 before the crisis. The stock is significantly below its yearly high of €19.10.
E EYATH is down 16.71%, falling to €3.19, while Autohellas is down 13.05% to €11.06, amid heightened uncertainty regarding tourism and travel.
Lamda Development is also under pressure, with losses of 12.73% to 6.10 euros, well below the year’s high of 7.76 euros, while AIA is down 11.89% to 10.08 euros.
Aegean Airlines is also down more than 10% , trading at €12.15 (-11.44%), well below the high of €15.36 it had reached earlier in the year.
Among the stocks with the largest losses are also Jumbo (-9.19%), Coca-Cola HBC (-8.81%), Titan (-8%), Ilida (-7.74%), and Fais Group (-7.41%).
