Today’s session on the Greek stock exchange was marked by mild fluctuations and constant swings in direction, but at the close of trading, the General Index reached a new 199-month high, with the next-highest closing level recorded on November 19, 2009 (2,497.15 points).
The DTR reached a new 127-month high, with the next-highest closing level recorded on November 16, 2015 (3,073.8 points).
Over the five-day winning streak, the General Index recorded cumulative gains of 4.7%, while the DTR, with an equal number of up sessions, posted gains of 8.81%.
On the other hand, it is worth noting that stocks with negative returns “led the rally from start to finish,” and this is a significant indication of the fatigue that continues to be evident across a large portion of the market.
There are very few mid- and small-cap stocks worth mentioning, as the number of stocks commanding higher valuations—backed by relatively robust trading volume—remains limited.
The views of industry professionals are sharply divided.
According to the optimistic school of thought, “the Greek stock market is expected to follow the international trend, with falling oil prices bolstering investor sentiment. Buyers are being ‘accompanied’ by ongoing—and fluctuating—‘short covering.’
On the other hand, according to more conservative analysts, “technically overbought levels may lead traders to engage in ‘profit-taking,’ which could intensify as the Index approaches the 2,500-point level.”
“Regional markets received mixed signals from yesterday’s session on Wall Street, where investors pulled back from tech stocks and turned to sectors more sensitive to the economic climate. Traders are expected to remain cautious, waiting to price in today’s Fed announcements, with attention shifting to guidance regarding the course of monetary policy in the coming months and to the chairman’s remarks during the post-meeting press conference. While the federal funds rate is widely expected to remain unchanged at 3.50%–3.75%, the markets will closely scrutinize any signals regarding future monetary policy easing, as the Fed is expected to rule out any suggestion that its next move could be a rate cut.
In this context, profit-taking may temper the recent rally, as several markets are in a state of short-term “overbought” conditions, a fact that may slow the positive momentum that has characterized recent trading sessions. The Greek Stock Exchange’s General Index is trading at technically overbought levels, a fact that may increase selling pressure, given the significant gains recorded since late April. In any case, as long as oil prices fall, this is positive news for the stock markets,” according to Beta Sec.
It should be noted that the EuroStoxx 50, EuroStoxx 600, and Dow Jones closed at new all-time highs yesterday, and the Nikkei and Kospi did the same this morning.
“The agreement reached between the U.S. and Iran is expected to be signed on Friday in Switzerland, at a luxury hotel complex overlooking Lake Lucerne, near Lucerne,” the Swiss Foreign Ministry announced.
“The memorandum with Iran is not final. “If I don’t like it, we’ll go back to bombing. The Strait of Hormuz will be fully open in a day or two,” Donald Trump said during the G7 summit in Evian, France.
Returning to the Athens Stock Exchange, regarding ADMIE’s rights offering (-1.15%), reports from brokerage firms indicate significant oversubscription, which may exceed four times the offering amount.
Beyond that, it is worth noting that the June “triple witching” is scheduled for June 19, while position rollovers continue on the Athens Derivatives Exchange (ADX).
“Short positions, given the upcoming expiration, are likely to be squeezed and help drive the market’s upward trend,” more “savvy” analysts continue to note.
On the other hand, the Stoxx index review will include CrediaBank’s stock 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.
In addition, 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 capping factors for the stocks included in the indices were calculated based on the closing prices at the end 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.
The issue of the free float of certain listed companies will also attract attention, as changes to the listing and trading regime in the European capital market are expected in the near future, as part of the implementation of the Listing Act. Among the key changes is a reduction of the minimum required free float percentage to 10%, subject to the relevant national transposition of the new rules.
Euronext has already provided for the possibility of accepting a free float percentage lower than 25%, with a minimum threshold of 5%, while during the transitional period, the application of a 10% threshold is being considered in order to provide greater flexibility to companies seeking to list on the Stock Exchange. In essence, this announcement overturns the Kontopoulos Regulation, which set a 25% free float threshold—at least for companies listing with a valuation below 200 million euros (for listed companies with a market capitalization exceeding 200 million euros, the minimum free float percentage may be limited to 15%).
In any case, the final extension for improving the free float expires at the end of June, while in early July, the listed companies that continue to face the risk of being transferred to the “Under Surveillance” category will be announced. Any requests that may be submitted will be reviewed on a case-by-case basis. The regulation refers to the average half-yearly dispersion.
Major European markets are trading cautiously with marginal fluctuations. Attention will continue to be focused on central bank announcements.
As a reminder, according to the economic calendar, the ECB’s next 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 (announcements are set for 9:00 p.m. tonight). Attention is also focused on the first press conference by the new Fed Chair, Kevin Warsh. The new Fed chair may argue that recent inflationary pressures stem mainly from temporary factors and that the central bank will continue to focus on the long-term trend of declining inflation), July 29, September 16, October 28, and December 9, 2026.
Beyond that, on Thursday, it will be the turn of the Swiss National Bank and the Bank of England to announce their decisions on interest rates for the Swiss franc and the pound, respectively, while the Philadelphia Fed Manufacturing Index for June will be released at 3:30 p.m. On Friday, markets in the U.S., China, Taiwan, and Hong Kong, among others, will remain closed due to official holidays.
“The earnings conference calls of S&P 500 companies for the first quarter of 2026 highlighted two dominant themes of concern to investors and management: artificial intelligence and inflation. Although these are two completely different concepts, they reflect the two fundamental forces shaping today’s business and investment environment. On the one hand, Artificial Intelligence embodies expectations for increased productivity, improved profitability, and the creation of new business models. On the other hand, inflation remains one of the most significant sources of uncertainty regarding business operating costs, monetary policy, and the prospects for economic growth,” as noted by Manos Hatzidakis (Beta Sec.).
A shift in the market landscape, with a marginal rise in yields in the bond market. More specifically, the yield on the U.S. 2-year Treasury note rose to 4.07%, while that of the corresponding 10-year note rose to 4.45% (the yield on the 30-year note stood at 4.94%). The yield on the Greek 10-year bond stood at 3.581%.
The General Index fluctuated between 2,485.12 (+0.40%) and 2,467.52 points (-0.32%). At 5:00 p.m., it stood at 2,482.62 (+0.29%) and closed at 2,484.69 points, with daily gains of 0.38%.
Trading volume, the lowest in the last four sessions, stood at 303.1 million, of which 40.7 million were block trades (AKTR, BYLOT, YKNOT, GEKTERNA, DEI, OTE, TRASTOR, ALFA, EUROB, EYDAP, ILYDA), with DEI, EUROB, PIR, and ETE accounting for 53% of the total gross trading value.
Of the total turnover of 303.1 million, 275.9 million related to trades in FTSE 25 stocks.
The picture in the large-cap sector
Among the heavyweight banking stocks, EUROB remained in positive territory (+2.8%), while OPTIMA remained in negative territory (-1.71%); ALPHA (-0.66%), ETE (+0.42%), PIR (-0.7%), and BOCHGR (0%).
The banking sector index fluctuated between 2,887.09 (+0.67%) and 2,853.75 points (-0.49%). At 5:00 p.m., it stood at 2,875.29 (+0.26%) and closed at 2,880.13 points, with daily gains of 0.43%.
The DTR has a daily buy signal, which is negated if the index retreats and closes below 2,638 points. The next support levels are at 2,610, 2,454, 2,443 (simple 200-day moving average), and 2,404 points (exponential 200-day moving average). The next resistance level is at 2,900 points.
Staying with the sector and according to a report by An. Papaioannou, “Of the approximately 3–4 billion euros in investment projects that were excluded from financing through Recovery Fund loans, slightly more than half are expected to receive direct bank financing, as they meet the criteria. The remainder will be reviewed on a case-by-case basis, depending on the companies’ creditworthiness. At the same time, funding for small and medium-sized enterprises is expected to begin flowing this fall from the 2 billion euros available through the Hellenic Development Bank. According to estimates, the 2 billion euros, when leveraged, could generate loans totaling up to 8 billion euros.”
The picture on the non-bank blue-chip index could be described as mixed. Notable daily changes were seen in GEKTERNA (+3.27%), DEI (+1.66%), ELPE (+5.2%), AKTR (-1.8%), ALWN (-1.69%), CENER (-2.93%), AIA (-1.48%), ELHA (-1.16%), EYDAP (-1.94%), MOI (-1.61%), and OTE (-1.65%).
DEI reached an 18-year high (+1.66%), GEKTERNA hit a new all-time high (+3.27%), and ELPE reached a 221-month high (+5.2%; analysts note that the agreement with Chevron adds significant value).
According to an announcement by MOI (-1.61%), “as of June 26, 2026, shares will trade without the right to receive the remaining net dividend for the 2025 fiscal year, amounting to 1.356444907 per share.”
The early termination of the share buyback program was approved by MOI’s annual general meeting. The Company clarifies that it did not proceed with any share buybacks under this specific program. The total number of treasury shares held amounts to 2,159,797, corresponding to 1.95% of its share capital.
The only stock in the non-banking 25-stock index that traded in negative territory throughout the session was EYDAP (-1.94%), which posted its second consecutive session of declines. The next support levels are at 10.00 and 8.40 euros (200-day exponential moving average), and the first resistance level is at 10.70 euros.
Analysts’ assessments
“Attention today will focus on the Fed meeting this evening, particularly in light of the emerging U.S.-Iran agreement and its deflationary impact on economies in the coming period. Domestically, the investment climate remains positive as the ADMIE Holdings rights offering is currently underway. We do not expect any dramatic developments for the Athens Stock Exchange in light of the Fed’s evening announcements,” reports Depolas Investment Services.
“ADMIE Holdings’ rights offering is currently underway and was oversubscribed from the very first hours, raising expectations for a high degree of oversubscription following the completion of the book-building process. Late tonight, the Federal Reserve will decide on its policy interest rates, with analysts expecting them to remain unchanged, and all eyes are on Kevin Warsh for his first press conference as chairman of the world’s most important central bank. The Athens Stock Exchange (ASE) continued its upward trend today, though signs of fatigue were evident. Banks remain the market’s main driver, while the approach to the 2,500-point level and Friday’s “triple witching” may increase short-term volatility. “The main resistance level for the Athens Stock Exchange Index is 2,500 points, while support levels are found at 2,400 and 2,300 points,” as noted by Kyklos Securities.
“A subdued trading session for European markets, with investors awaiting the Fed’s decision on interest rates, while lower oil prices may offer some support in the broader context of interest rates and risk appetite,” according to Eurobank Equities.
“Following the signing of an agreement between the U.S. and Iran, optimism has returned to the capital markets, as noted by Solidus Sec.
The trajectory of the stock markets through the end of 2026 will be determined by AI-driven net profitability on Wall Street and the Athens Stock Exchange, as well as by the resilience of the Greek economy and the timing of the elections.
In detail:
Athens Stock Exchange
The Greek market maintains its strong momentum, supported by banks’ credit expansion, funds from the Recovery Fund, and robust business flows (e.g., in the energy and infrastructure sectors). Although the European economy is showing signs of stagnation, Greek growth is expected to reach 2.0–2.4% in 2026, providing a strong fundamental foundation. The General Index, having broken through multi-year highs and trading around 2,470 points, indicates that capital accumulation is continuing.
Target price for 2026: 2,600–2,650 points, with the banking sector and large-cap blue chips leading the trend.
S&P 500
In the U.S., the narrative is no longer based on P/E expansion but on the impressive growth in corporate profitability. Major investment banks, such as Goldman Sachs and Citi, have revised their earnings per share (EPS) forecasts upward to $340–$350, as tech giants (hyperscalers) continue to make massive capital expenditures (CapEx) on AI infrastructure.
Despite pressure on profit margins in traditional sectors due to input costs, the momentum in the technology sector is absorbing the shocks.
Target price for 2026: 8,000–8,100 points.
Nasdaq
The high-tech index remains the primary barometer of the “structural shift” driven by automation and AI-driven productivity. The leadership of the rally is beginning to spread beyond the “Magnificent 7,” extending to semiconductor manufacturers, cybersecurity providers, and data centers. At the same time, the stabilization of the Fed’s monetary policy is supporting long-duration assets.
Target price for 2026: 34,430 points.
“The greatest risk for the second half of the year remains companies’ ability to translate CapEx investments into recurring organic profitability, as well as geopolitical tensions affecting energy costs,” summarizes Solidus Sec.