Clearly upward was the session held today on the Greek stock market, with the main ASE indices moving permanently in positive territory, but retreating significantly from the day's highs and the familiar heavyweight stocks (Banks – Refineries) alternating in leading roles.
A picture of devaluation from there and lower down where, with very few exceptions, the overwhelming majority of stocks continues to be subject to the “law of gravity”, as every day several small investors get tired of waiting for the reaction that does not come and proceed to reduce positions, looking for buyers, whom they do not find, with the result that a significant number of shares record new multi-month lows.
So today as well, and despite the positive picture of the indices, for almost the entire duration of the session declining stocks outnumbered advancing ones and this, since it has become a permanent phenomenon, certainly indicates something.
Support for the ASE, it could be argued, also came from the willingness for a controlled reaction from the main European markets, however attention will be focused on the FED and the announcement of its interest-rate decision tonight. The probabilities are now strongly in favor of a 25-basis-point increase in US interest rates, so the wording regarding the outlook for the year is expected to attract greater interest and affect the markets accordingly.
The announcements of the BoE (Thursday 17/9 14.00) and the BoJ (Friday 18/9 06.00) follow.
According to the economic calendar, the next meetings - announcements of the ECB are scheduled for 29/10 and 17/12/2026.
The corresponding ones of the Fed are scheduled for 28/10 and 9/12/2026.
“International markets are facing a sharp repricing of the cost of money. The yield on the 10-year US Treasury exceeded 5% yesterday, while the 10-year Japanese JGB exceeded 3% for the first time since September 1996, that is, at 30-year highs,” as Stratis Polychroneas notes.
The rise in US yields is being passed on to mortgage rates, burdening the real estate market, while in Japan it increases the risk of a reversal of the yen carry trade and repatriation of capital.
A decisive factor is now energy. The serious disruption in the Strait of Hormuz, combined with the advance of the Houthis toward Bab el-Mandeb (Bab el-Mandeb Strait), threatens two of the most important energy and trade arteries worldwide.
Brent remains above $107, once again strengthening inflationary pressures. In fact, unlike the energy shock of 2022, when the US had about 594 million barrels in the Strategic Petroleum Reserve, today inventories have been reduced to just 285 million barrels, a low since 1982, significantly limiting the ability to intervene to contain prices.
The combination of high oil prices and persistent inflation increases the likelihood of further interest-rate hikes by the major central banks. With government bonds now offering particularly competitive yields, the environment becomes clearly more demanding for equities, increasing the chances of profit-taking and correction, after the significant rise that has preceded in international markets,” Mr. Polychroneas estimates (certified technical analyst).
Confirming the above, “the average rate for a 30-year fixed-rate mortgage in the US rose to 6.97% in the week ending September 11, the highest level since May 2025,” according to the Mortgage Bankers Association.
Returning “within the walls,” today there were admitted to trading on the Main Market of the ASE, the 116,071,386 (common) shares of “Star Bulk Carriers Corp.”, with OASIS code “SBLK”. The opening trading price of €27.05 was equal to the closing trading price of the shares on the Nasdaq Global Select Market on 15/9/2026, following conversion from US dollars to euros, based on the EUR/USD reference exchange rate published by the ECB on 15/9/2026.
It is recalled that the new shares of SBLK (-1.48%) were acquired at a price of 24.50 euros, but due to the higher price in New York, the starting price today was 27.05 euros. There was therefore a significant premium, which the quick ones rushed to exploit.
For the first three trading days, the daily price fluctuation limit of the share price will be ±60%.
It is also worth recalling that from today until Friday the ASE decided the extension of the trading phase during which transactions are carried out only at the closing price (at the close / ATC) by 10 minutes, beyond the prescribed schedule, namely until 17.30, instead of 17.20. The corresponding extension, until 17.30, of the period for registering pre-agreed transactions.
The entire body of traders has focused its attention on Friday 18/9, when the rebalancing is scheduled for the upgrade of the Market to Developed from Emerging, with the ASE getting the “ticket” for entry into Developed Markets from Stoxx, S&P DJI and FTSE Russell.
At the same time, National Bank, Eurobank, Piraeus Bank, Alpha Bank, PPC, METLEN, GEK TERNA, Motor Oil and Jumbo will be included in the EuroStoxx 600 index.
On the same day, the September “triple witching” in the Derivatives Market will have preceded, with whatever this may imply for volatility, but also the value of transactions (!)
On the evening of the same day, the “verdict” of Moody's (“Baa3” rating and stable outlook) and Scope Ratings (“BBB” rating with positive outlook) is expected for Greek creditworthiness.
The next scheduled reviews of Greek creditworthiness will take place on: 23 October 2026: Standard & Poor's. 6 November 2026: Fitch Ratings (completion of the annual cycle).
“From today until Friday the Market will have considerable ‘noise’. Expiries, restructurings and increased transactions are likely to create moves that will not necessarily reflect the real picture of the Market. It would therefore be good not to make decisions in the heat of the moment. In such periods psychology can easily lead to hasty moves, which we may later regret. Let next week pass and above all let us see the Market’s intentions before making our decisions. We do not need to catch every move. What matters is that we can read the Market more clearly, when the extraordinary pressures and technical flows have subsided,” emphasizes Ilias Zacharakis (chairman and chief executive officer of Fast Finance AEPΕY).
On the front of first-half corporate results, today Lamda Development publishes results, on Thursday 17 September Lavipharm, Evropi Holdings, EIS and Profile follow, while on Friday 18 September the week is completed with the announcements of Ellaktor and Kekrops.
Meanwhile, according to the list of the Hellenic Capital Market Commission and regarding net short positions exceeding 0.5%:
JP Morgan Asset Management (UK) Ltd remains with a net short position of 0.78284% in the MTLN share, AKO Capital LLP with a net short position of 1.31857% in the MTLN share and Qube Research & Technologies Limited with a net short position of 0.90602% in the ADMIE stock.
As of 9/9, Qube Research & Technologies Limited reduced its net short position in the BYLOT share from 0.90657% to 0.89941%.
With positive signs and mild changes the major European markets, with traders monitoring oil prices and the bond market.
The yield on the US 2-year note declines to 4.63%, and to 4.97% on the 10-year. The yield on the 30-year at 5.35% far exceeds the average dividend yield of the S&P 500). The yield on the Greek 10-year note stands at 4.284%.
The General Index moved permanently in positive territory, climbing up to 2717.2 points (+0.82%). At 17.00 it stood at 2696.61 (+0.05%) and completed trading at 2698.76 points, with daily gains of 0.13%.
Turnover at 421.4 million, of which 95.7 million concern pre-agreed transactions (TITC, BOCHGR, AKTR, BYLOT, ΕΥΡΩΒ, ΓΕΚΤΕΡΝΑ, ΑΛΦΑ, ΠΕΙΡ, ΜΟΗ, ΟΤΕ, ΤΡΑΣΤΟΡ, ΜΠΕΛΑ, ΔΕΗ), with Piraeus, Alpha and Eurobank accounting for 45% of the total gross transaction value.
Of the total turnover of 421.4 million, 391.1 million concern transactions in FTSE 25 shares.
In PIRAEUS, 23.4% of turnover.