The Greek stock market also saw a clear upward trend in the final session of the week, with the main ATHEX indices trading consistently in positive territory, the General Index closing at a new 16.5-year high, with the previous high recorded on December 2, 2009 (2,433.24 points), and the banking sector index’s +2.58% gain, leaving no room for doubt as to which sector led today’s upward rally, in the wake of news coming from the Middle East.
More specifically, U.S. President Donald Trump announced on Thursday evening that he is “canceling the planned attacks against Iran and will soon announce when and where an agreement with Iran will be signed. The naval blockade will remain in full force and effect until this agreement is finalized.”
The memorandum of understanding will extend the ceasefire for 60 days, including in Lebanon, during which time nuclear negotiations will take place.
Trump stated that he expects a signing ceremony to take place over the weekend. A spokesperson for the Iranian Foreign Ministry stated that “Tehran has not yet made a final decision.”
On the other hand, Iran’s state news agency claimed today that “the terms of the draft agreement with the United States do not include Tehran ceding control of the Strait of Hormuz,” while the Iranian news agency “Fars” reported that “reports of an agreement being signed with the U.S. this coming Sunday in Geneva are false.”
“The terms leaked by Iran to the fake media have nothing to do with the terms agreed upon in writing,” Trump responded on “Truth Social.”
The above news served as the catalyst for today’s reaction, compounded by the latest decline in oil prices, with markets focusing on the positive aspect of the news.
According to analysts, “today’s reaction by the Greek stock market was entirely expected, with the General Index moving toward new multi-year highs, as the Athens Stock Exchange had demonstrated exceptional resilience recently, despite increased volatility, aided by the positive first-quarter results that have been announced. Proportionally speaking, the picture for mid- and small-cap stocks remained disappointing.”
“The Athens Stock Exchange traded higher today, supported by a significant improvement in the global risk appetite following U.S. President Donald Trump’s statement that ‘an agreement to end the conflict with Iran may be close and could even be signed this weekend.’ These statements triggered a rally in high-risk assets in international markets, creating a favorable climate for stocks.
As for the Greek market, the prevailing momentum remains consistently positive, with investors likely focusing on domestic growth prospects, corporate developments, and the continued inflow of foreign capital. Having demonstrated remarkable resilience during recent periods of volatility, the Athens Stock Exchange appears well-positioned to extend its upward trajectory, with the General Index continuing its march toward new multi-year highs. “Thus, the combination of a favorable international climate and strong domestic momentum could allow Greek stocks to rise even higher,” Beta Sec notes in its assessment.
On the other hand, it is perhaps worth noting the notable decline in indices and individual stocks from their intraday highs.
Considering that in the first half-hour of trading, had a turnover of 24.4 million, it could be argued that trading activity subsequently slowed down, as many traders continue to focus their attention on the upcoming Friday, June 19.
Nevertheless, today’s turnover was the highest of the last three sessions.
It is worth noting that the June triple witching is scheduled for June 19, while the first position rollovers have begun on the Athens Stock Exchange.
On the other hand, the Stoxx index review will include CrediaBank shares in the STOXX Greece, STOXX Developed and Emerging Markets, STOXX Emerging Markets, STOXX Eastern Europe, STOXX Balkan, STOXX All Europe, and STOXX Global Total Market indices. Ellaktor is being removed from the indices. The changes will take effect at the close of trading on Friday, June 19.
Additionally, the Athens Stock Exchange (ASE) and FTSE Russell announced the results of the regular semi-annual review of the composition of the FTSE/ASE indices for the period November 2025 – April 2026. CrediaBank is being added to the FTSE25, while Sarantis is being moved to the FTSE/ATHEX Mid Cap. The weighting factors (Capping Factors) for the shares included in the indices will be calculated based on the closing prices of the trading session on Friday, June 12, 2026. All changes will take effect as of the trading session on June 22, 2026, and the rebalancing will take place on June 19, 2026.
Major European markets are trading in positive territory but well below their initial highs, as oil prices retreat. Attention will remain focused on central bank announcements.
“Following yesterday’s 25-basis-point interest rate hike by the ECB, the most important takeaway for investors is that Europe is entering a new phase. Until a few months ago, the market’s baseline scenario anticipated further interest rate cuts and a gradual easing of inflation. The energy crisis triggered by geopolitical developments has overturned this picture. The ECB now believes that the greatest risk is not weak growth, but the loss of control over inflation expectations.
For investors, the new reality favors selectivity. Companies with strong balance sheets, stable cash flows, low leverage, and the ability to pass on increased costs to their customers are likely to continue to outperform. In contrast, companies with high debt levels and a reliance on cheap financing will face a more challenging environment,” notes Symeon Mavroudis (portfolio manager at Fast Finance AEPEY).
The IMF estimates that Eurozone interest rates may need to rise further to limit the impact of the energy shock on inflation. The Fund’s baseline scenario projects a total increase in interest rates of 50 basis points by 2026, relative to pre-war levels. If data confirm the baseline scenario, the IMF considers it likely that even more restrictive monetary policy will be required to prevent the spread of higher energy costs throughout the economy and to keep them under control. However, if the rise in inflation expectations is accompanied by a sharp deterioration in financing conditions and a significant decline in demand, the need for further monetary tightening could be limited.
Joachim Nagel, a member of the Executive Board of the European Central Bank and President of the Bundesbank, stated that “the ECB is prepared to raise interest rates again at its next meeting, provided that the consequences of the crisis in the Middle East continue to fuel inflation.”
On the other hand, the Federal Reserve is widely expected to keep interest rates unchanged at its meeting next week, while investors continue to price in at least one rate hike, by 25 basis points, by the end of the year.
It should be noted that, according to the economic calendar, the ECB’s next monetary policy meetings and announcements are scheduled for 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.
Bond market yields are showing signs of a mild decline. More specifically, the yield on the U.S. 2-year note has fallen to 4.08%, while the yield on the corresponding 10-year note stands at 4.48% (the yield on the 30-year note is at 4.98%). The yield on the Greek 10-year bond stands at 3.689%.
The General Index remained firmly in positive territory, reaching a daily high of 2,444.61 points (+2.01%). At 5:00 p.m., it stood at 2,415.74 (+0.81%) and closed at 2,421.69 points, with daily gains of 1.06%.
Turnover stood at 311.3 million, of which 39.3 million related to pre-arranged trades (OPTIMA, AKTR, BYLOT, TITC, PPC, EUROB, PIR, ADMIE, ALPHA, OTE, AVAX, TRASTOR, BELA), with EUROB, PIR, ETE, PPC, and ALPHA accounting for 55% of the total gross trading value.
Of the total turnover of 311.3 million, 276.2 million related to trades in FTSE 25 shares.
Beyond that, today was the last trading session of the week, which proved to be bullish, yielding weekly gains of 2.8% for the General Index and 3.55% for the banking sector index. Since the beginning of the year, the General Index has posted gains of 14.19% and the Banking Sector Index gains of 19.82%.