Stock market: Breaking above 2,600 points remains the challenge

Investors are focused on international developments. CMF’s public offering is under way. Bond yields continue to ease.

Stock market: Breaking above 2,600 points remains the challenge

This article is an AI translation of an original piece published in Greek. Read original

Trading ended with modest losses yesterday evening for the main indices on Wall Street (Dow Jones, S&P 500, Nasdaq, Russell 2000), as market participants greeted the first quarterly results from the banking giants (Goldman Sachs, Wells Fargo, JPMorgan Chase, Citigroup) with caution, marking the start of the US earnings season.

Today, Bank of America, Morgan Stanley and BlackRock report results. On Thursday, 15 October, the announcement from Taiwan Semiconductor Manufacturing Company (TSMC) will be a highlight, attracting particular interest because of its importance to the global semiconductor market and investment in artificial intelligence.

Also due today at 15:30 is the US September inflation report, with investors looking for signs that could support a less restrictive policy path from the Fed. US retail sales are due on Thursday, followed by September inflation in the Eurozone on Friday.

Major markets across Asia and the Pacific are trading mixed, with modest moves, while futures point to a mildly higher open on the major European markets.

Meanwhile, the Eurozone will pay a heavy price for the sharp rise in borrowing costs, with interest rates at decade highs. The European Stability Mechanism (ESM) warns that high interest rates will add to the Eurozone’s debt burden by 7.2% of GDP by 2035, or about €520 billion.

Brent has climbed back above $106 a barrel after reports that Houthi rebels attacked the headquarters of Saudi Aramco in Dhahran, setting them ablaze, while two more ships were hit in the Strait of Hormuz.

Meanwhile, “Iran is using new tactics to target ships passing through the Strait of Hormuz as it seeks to keep oil prices high and influence the US midterm elections,” two senior Iranian officials told Reuters.

At the Athens Stock Exchange, the first technical hurdle remains a return by the General Index above 2,600 points. However, the Greek market’s strong correlation with European markets means that international sentiment will set the tone.

The morning report from Beta Securities takes a similar view, saying: “Caution is likely to persist on the Athens bourse, as elevated energy prices leave little room for optimism. Sideways trading looks the most likely scenario for today’s session, with domestic stocks expected to track international markets closely.”

Capital Maritime’s public offering opened yesterday and closes on Thursday, 15 October, aiming to raise up to €300 million to expand its fleet. The maximum offer price is €7.68 per new share, and the minimum is €7.00 per new share. Trading in the new shares will begin on Tuesday, 20 October 2026. The shipping company owned by Vangelis Marinakis has already seen its offering fully covered on the first day, according to sources familiar with the matter.

From today, Veralis shares (VRLS) will trade with a maximum daily share-price fluctuation of ±10%.

Also from today, following an equal-sized increase and reduction in share capital, Europe Holdings shares (EVR) will trade at a final nominal value of €0.26 per share and without the right to participate in the €0.31-per-share return of capital to the company’s shareholders, payable in cash (adjusted opening price: €1.3700).

Finally, from today, ATEK shares will trade ex-dividend for €0.02 per share (net amount: €0.019 per share), while Phoenix Vega Mezz shares (ΦΒΜΕΖΖ) will trade ex-dividend for €0.002399295 per share (the final net amount of the interim dividend received by a shareholder may vary depending on the shareholder’s tax residence and domicile status).

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