Clearly positive was the first session of the new stock market week, with the main indices of the ATHEX (GD, FTSE25) moving permanently in positive territory, while the net value of transactions declined to lower levels also due to today’s holiday on Wall Street (Labor Day).
The close of trading found the General Index at new 203-month highs, with the immediately higher close having been recorded on 26/10/2009 (2781.13 points) and the sectoral Banking index at new 130-month highs, with the immediately higher close having been recorded on 11/11/2015 (3396.6 points).
On the other hand, it would be a significant omission not to mention that the main indices of the ATHEX retreated significantly from their intraday highs, with the General Index completing trading at the day’s low, with a marginally positive change.
Taking developments in chronological order, it upgraded the outlook of the Greek “BBB” rating to positive, from stable by DBRS.
The next scheduled assessments of Greek creditworthiness will take place on the following dates: 18 September 2026: Moody's and Scope Ratings. 23 October 2026: Standard & Poor's. 6 November 2026: Fitch Ratings (completion of the annual cycle).
From that point on, all scenarios, regarding the short-term course of the International Markets and by extension also of the ATHEX, remain on the table and the only certainty is that until announcements are made by the Central Banks, volatility will continue to dominate prices, as well as traders’ psychology.
It is recalled that according to the economic calendar, the next meetings - announcements of the ECB are scheduled for 10/9, 29/10 and 17/12/2026.
The corresponding ones of the Fed are scheduled for 16/9, 28/10 and 9/12/2026.
Under this prism, the announcement of the US consumer price index for August, on Friday 11 September at 15:30, acquires pivotal importance for the Fed’s decisions at the 16 September meeting. According to analysts, “this is the last critical data point before the Federal Reserve meeting next week, the outcome of which remains extremely uncertain”.
On the other hand, Deutsche Bank now expects that the European Central Bank will raise interest rates again by 25 basis points in December, beyond the September increase, as persistent risks regarding Energy continue to put pressure on inflation.
According to Beta Sec., “in the case of the ECB, the Markets have fully priced in an increase of 25 basis points, to 2.50%. Beyond the increase, investors will also focus on the outlook for the rest of the year, as a second equal increase has been priced in for the December meeting”.
Returning to the ATHEX, the General Index, which was coming from seven consecutive positive weeks, active investors were called today to price in the Prime Minister’s announcements at the TIF.
According to analysts, “from the Market’s perspective, the package did not excite. Expectations for a reduction in the corporate tax rate were disappointed, while the gradual reduction of the tax prepayment starts in 2028. There was, however, relief from the avoidance of imposing new ‘sponsorships’ on the Banks” and this was reflected on the Heavyweight Banking board, as well as in the +0.51% of the sectoral Banking index.
From the front of corporate results, tomorrow Sarantis, BriQ Properties and Fourlis announce financial figures. On Thursday 10 September, Alpha Trust Andromeda, GEVKA and Mermeren follow. From 9 to 11 September, the public offering of Star Bulk shares will run for the parallel listing of the Nasdaq-listed shipping company on the Main Market of the ATHEX.
From that point on and according to an analyst – collaborator of the column, “the upcoming entry of the ATHEX into the Developed Markets, directs flows in a targeted way to the Banking sector and to a few more index-heavy stocks. When, how and whether there will be a diffusion of interest to lower capitalizations as well, practice will show, but for the time being such a thing is not visible, as the stripping of valuations continues at an unabated pace in an ever larger number of titles”.
It is worth recalling that by the end of September all listed companies must have published first-half results, while on 18/9 the rebalancing is scheduled for the upgrade of the Market to Developed, from Emerging, with the ATHEX getting the “ticket” for entry into the Developed Markets from Stoxx and FTSE Russell.
It should be noted that the changes by FTSE Russell on 4 September were finalized. It is recalled that the House had announced the changes to the indices on 21 August and had noted that “until 4 September changes may be made and from today, 7 September, they will be considered final”.
The only change announced concerns the FTSE EuroMid index, to which the House adds the shares of Allwyn, Alpha Bank, Cenergy, GEKTERNA, OTE, Piraeus Bank, PPC and Viohalco.
According to the data of FTSE Russell, a total of 32 Greek titles meet the eligibility criteria for the September review, based on data up to 30 June 2026.
In the Mid Cap category 10 stocks are included: Allwyn, Alpha Bank, Cenergy Holdings, Eurobank, GEKTERNA, OTE, National Bank, Piraeus Bank, PPC and Viohalco.
In the Small Cap category 22 stocks are included: Aegean Airlines, Aktor, Athens International Airport, EYDAP, Autohellas, AVAX, Bally’s Intralot, BOCHGR, CrediaBank, Ellaktor, ElvalHalcor, Euronext Athens, Helleniq Energy, ADMIE Holdings, Jumbo, Lamda Development, Motor Oil, Optima Bank, PPA, Quest Holdings, Sarantis and Titan.
Based on the closing prices of 21 August 2026, FTSE Russell calculates that Greece’s weight will be formed at: 0.082% in the FTSE Global All Cap, 0.091% in the FTSE Developed All Cap, 0.065% in the FTSE All-World, 0.072% in the FTSE Developed Index.
With mixed signs, mild changes and evident nervousness, the major European Markets.
With Brent testing prices above $97/barrel, all Market eyes are turned to Singapore, where from tomorrow until the 10th of the current month, the “Asia Pacific Petroleum Conference” of S&P Global Energy will be held, with the participation of more than 1500 Leaders of the Global Energy Market.
At 4.37% remains, due to the holiday, the yield of the US 2-year bond in the bond market, at 4.78% for the 10-year, (the yield of the 30-year at 5.24% far exceeds the average dividend yield of the S&P 500). The yield of the Greek 10-year bond is climbing to 4.029%.
The General Index moved permanently in positive territory, climbing up to 2723.94 points (+0.84%). At 17:00 it stood at 2707.64 (+0.23%) and completed trading at 2702.54 points, with daily gains of 0.04%.
Turnover at 242.8 million, of which 31.2 million concern pre-agreed transactions (NOVAL, AKTR, BYLOT, BOCHGR, EUROB, ETE, PEIR, KRI, MOH, ADMIE, OTOEL ELPE, EKTER, BELA, PPC), with ETE, PEIR, EUROB, ALPHA accounting for 53% of the total gross transaction value.
Of the total turnover of 242.8 million, 222.7 million concern transactions in FTSE 25 shares.