The session on the Athens Stock Exchange was clearly bullish, with the ATHEX’s main indices trading consistently in positive territory, while at the close of trading, the General Index reached a new 200-month high, with the previous highest close recorded on November 18, 2009 (2,528.95 points) and the Banking Sector Index at a 128-month high, with the next-highest closing level recorded on November 16, 2015 (3,073.8 points).
It could be argued that today’s trading session resembled a “general mobilization,” as during the day’s early highs, there was not a single FTSE25 stock that did not post a positive daily change—a situation that changed somewhat later on, while the number of rising stocks was more than double that of falling ones, even though the picture was clearly more cautious among mid- and small-cap stocks.
If there was one thing that troubled market participants, it was the relatively low net trading value, despite the significant support provided by the “stimulus packages” and, even more so, the noticeable decline in indices and individual stocks from their intraday highs.
Meanwhile, Goldman Sachs is raising the bar for the Athens Stock Exchange; in its new report on emerging markets, it sets a target price of 2,600 points for the General Index over a 12-month horizon, up from 2,500 points previously.
Meanwhile, 60,161,600 (KO) shares of Attica Stores were listed for trading today on the Main Market in the “Retail” sector, with the OASIS ticker symbol “ADPS” (-0.14%) and an opening price of €3.20 per share. For the first three trading days, the daily price fluctuation limit will be ±60%.
According to Lambros Papakonstantinou, head of Ideal Holdings, “this is the first time a company has been listed through a share offering (i.e., a minority stake in its share capital), a development that may set a precedent for similar moves by other companies.”
It should be noted that “Seanergy Maritime Holdings Corp.” proceeded with a public offering in Greece, involving a cash payment and the listing of its bonds for trading in the fixed-income securities category of the Regulated Market of Euronext Athens, with the issuance of five-year bonds. The plan is to issue up to 100,000 dematerialized, registered, common bonds, each with a face value of €1,000 and a total amount of up to €100 million. In the event of partial subscription totaling less than €75 million, the offering will be canceled. The public offering begins on Monday, July 6, 2026, and concludes on Wednesday, July 8, 2026.
According to reports, “two shipping companies are in the process of submitting their applications to list on the Athens Stock Exchange.”
Beyond that, and according to what is being said in brokerage offices, the “flurry” of announcements regarding share capital increases and bond issuances “is forcing companies that had planned capital injections for later in the year to expedite their moves, as no one knows what the climate will be like internationally and in Greece in the fall.”
Attention is also focused on international markets, as concerns about valuations in the artificial intelligence sector—and specifically among semiconductor manufacturers—have not subsided, a fact evident this morning in Asian markets (Nikkei -2.33%, Kospi -7.89%).
Meanwhile, with no substantial progress toward reaching a permanent peace agreement, the indirect talks between Iran and the United States concluded in Doha. The next meeting will take place after July 9.
Turning to the Athens Stock Exchange, discussions and assessments continue regarding the expected first-half banking results, which are anticipated to be satisfactory and may lead to new reports with upgraded price targets for the sector.
According to the financial calendars of the major banks, and barring any last-minute changes, PIR will announce its first-half results on July 29, followed by ETE, EUROB, and OPTIMA will announce their first-half results on July 30; ALPHA on July 31; BOCHGR on August 4 (which will also announce an interim dividend payment); and CREDIA on August 6.
Meanwhile, according to the Hellenic Capital Market Commission’s report regarding net short positions exceeding 0.5%:
Arrowstreet Capital Limited Partnership continues to hold a net short position of 0.50525% in QLCO shares; JP Morgan Asset Management (UK) Ltd holds a net short position of 0.80012% in MTLN shares, AKO Capital LLP holds a net short position of 1.31857% in MTLN shares, and Qube Research & Technologies Limited holds a net short position of 0.74346% in BYLOT shares
As of June 30, Qube Research & Technologies Limited increased its net short position to 0.71317%, up from 0.63356% in ADMIE shares, while as of July 1, Marshall Wace LLP reduced its net short position to 0.69377% from 0.71013% in MTLN shares.
Major European markets are trading higher, benefiting from Europe’s lower exposure to technology stocks, the latest decline in oil prices, and the lower-than-expected number of new jobs created by the U.S. economy in June.
The DAX, EuroStoxx 50, and EuroStoxx 600 are poised to close at new all-time highs.
Yields in the bond market are mixed, with a slight decline for near-term maturities. The yield on the U.S. 2-year Treasury note fell to 4.11%, while the yield on the 10-year note stood at 4.46% (the 30-year yield was at 4.98%). The yield on the Greek 10-year bond climbed to 3.602%.
The General Index remained in positive territory throughout the day, reaching an intraday high of 2,517.63 points (+1.46%). At 5:00 p.m., it stood at 2,512.39 (+1.25%) and closed at 2,505.37 points, with daily gains of 0.97%.
Trading volume stood at 301.9 million, of which 68.9 million were pre-arranged trades (ADPS, CENER, OTE, PPC, PIR, SAR, ALPHA, ADMIE, BIO, GEKTERNA, ELPE, PPA, LAMDA), with OTE, GEKTERNA, and PPC accounting for 34% of the total gross trading value.
Of the total turnover of 301.9 million, 276.8 million relate to trades in FTSE 25 stocks.