The U.S.-Iran MoU has been signed, stock prices are rising, risk appetite is increasing, oil prices and bond yields are rebounding—developments that are further energizing traders.
Volatility on Wall Street, with the Fed meeting taking center stage. Interest rates are expected to remain at 3.5%–3.75%, though Kevin Warsh’s stance on a potential rate hike later in 2026 remains ambiguous.
This stance triggered sell-offs in shares of AI giants, with SpaceX down 5.2%—following a rally to $80 per share. At 18.44 points, the VIX/CBEO suggests two days of heightened volatility and opportunities for intraday trading by both long and short players.
Brent crude is below $78, the Nikkei is above 71,000—for the first time—and just a short while ago in New York, S&P 500 futures were pointing to an opening 0.44% higher at 7,479 points.
Investors are cautious in European markets; gains are modest on the Frankfurt and London stock exchanges, while the Stoxx is at a historic high of 639 points. The EuroStoxx Banks index, at a 52-week high following yesterday’s 2.03% gain to 294.96 points, contributed to a shift in investor sentiment on the Greek stock market, resulting in an upward “rebound” for the DTR from 2,853 to 2,887 and a “close” at 2,880 (0.43%).
Trading volume in the banking sector totaled 21.29 million shares, out of a total of 38.36 million shares traded during a session in which turnover slightly exceeded 300 million—with 40 million coming from pre-arranged orders.
Significant inflows were seen in PPC (23.34), GEK TERNA (46.06), and HelleniQ Energy (10.93)—among the major blue chips—saw significant inflows, alongside buying in Eurobank (4.40) and National Bank (15.50), sustaining the long trend in both the FTSE25 and the DTR.
With triple witching and rebalancing scheduled for tomorrow, Friday, the week’s “close” is expected to be interesting. With a small premium of 0.43%–0.45%, the numerous index futures contracts in the derivatives market reinforce the assessment of market participants that the next two days will be quite “heated.”
The banking sector is the frontrunner and the driving force behind the ongoing upward trend, with a noticeable rotation among the four stocks of the systemic banking groups. Yesterday, it was Eurobank and National Bank of Greece’s turn to lead the way as buyers “cashed in”; it remains to be seen over the next day or two how some of this liquidity will be reallocated.
However, by general assessment, what matters is the inflow of capital into market bellwethers and key economic/business stocks at these high prices, as was notably seen yesterday, primarily in PPC, GEK TERNA, and to a lesser extent in TITAN, Metlen, and Viohalco.
A notable exception was the spectacular 5.20% gain in HelleniQ Energy’s stock to 10.93 euros, with trading volume rising to 589,000 shares, attributed to the finalization of Chevron’s 70% stake in “Block 10,” with all that this may entail, both specifically for the Greek group and more broadly for Greek interests.
At the same time, the prospect of the “opening” of the Strait of Hormuz has Greek shipping companies rushing to take advantage, while specific business interests (from the construction, pharmaceutical, metals, and food sectors) are engaging in discussions regarding their potential entry into the Iranian market.
There is also activity among mid- and small-cap stocks, with specific FTSEMidCap shares in the spotlight. Ideal Holdings, due to Attica Department Stores, with the stock at 7.35 euros—though this is an adjusted price due to the ex-dividend date for the 0.70 euro/share capital return, as noted by HAMileon. Excluding the dividend entitlement (€0.0654 per share) for Trade Estates, quarterly figures released before the “opening” of the trading session by the management of Thrace Plastics —with preliminary data justifying the inflows of recent days—Interlife’s stock hit a new high of 7.08 euros, with members of the community considering the 131 million (valuation) to be undervalued.
As for the... sudden surge in Attica Holdings’ stock, up 12.50% to 1.80 euros, the “key” to any (and when...) developments is what HAMailon notes regarding the listed company’s pivotal role in the maritime network and in connecting Greece to its islands, as it is virtually certain that it will require the participation of Greek business interests, given its role in the country’s defense planning.