Today’s session on the Greek stock market was marked by selective interest and measured buying. Its main features were rotation among large-cap stocks, turnover remaining at relatively low levels (the lowest in the past 26 sessions, with the previous low of €243.59 million recorded on 8 September) and a complete lack of interest in lower-capitalisation stocks.
Despite this, the General Index posted gains for a third consecutive session, bringing its cumulative advance to 1.74%.
The dearth of domestic news was again evident on the stock market today, with interest continuing to rotate among the same large-cap stocks that have led trading each day, while mid- and small-cap stocks remain on the sidelines, both in terms of trading and investor interest.
The prevailing trend and sentiment on the Athens Exchange were clearly reflected in the fact that, although the ATHEX Composite Index traded in positive territory for the overwhelming majority of the session, falling stocks “led the race” from start to finish, and by an increasingly wide margin (!)
In the view of Manos Chatzidakis (Beta Sec.), “domestic catalysts that could offer scope for a divergence are currently absent, with the next significant news expected towards the end of the month, when third-quarter earnings announcements begin. As a result, international factors are expected to remain decisive through the end of October, setting the main direction for the domestic market”.
It is recalled that Capital Maritime’s public offering began yesterday and closes on Thursday 15 October, with the aim of raising up to €300 million to expand its fleet. The maximum offer price is €7.68 per new share and the minimum is €7.00. Trading in the new shares is due to begin on Tuesday 20 October 2026. The public offering by the shipping company owned by Evangelos Marinakis was already “covered” on the first day, according to sources familiar with the matter.
Over the next six months, according to reports, two more shipping companies may list on the Greek stock market.
GEK Terna is planning to proceed with its Eurobond offering next week. The issue could amount to €500 million.
October contracts on the derivatives market expire on Friday 16 October.
Elsewhere, Brent appears to be testing prices above $106 a barrel.
“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.
Major European markets were higher but well below their morning peaks as they tried to price in US inflation data for September.
More specifically, annual inflation in the United States rose to 3.7% in September from 3.4% in August, above analysts’ forecasts of 3.6%. Month on month, the consumer price index (CPI) rose by 0.6, in line with forecasts. Annual core inflation, which excludes food and energy, increased to 2.6% from 2.4% in August. Analysts had forecast a rise to 2.5%. Month on month, the core index rose by 0.3%, above analysts’ expectations for a 0.2% increase.
The bond market reacted immediately.
The yield on the US two-year Treasury surged to 4.87%, while that on the 10-year Treasury rose to 5.26%. The 30-year yield stood at 5.58%. The yield on Greece’s 10-year bond was 4.402%, while that on the equivalent French bond was 4.88%.
Billionaire investor Ray Dalio warned that the mass sell-off in US bonds is far from over, as a surge in government and corporate borrowing coincides with weakening demand from some of the world’s biggest traditional buyers. The founder of Bridgewater Associates believes the burden of US debt, measured by total borrowing and the cost of servicing bonds relative to government revenues, has reached its highest level since the Second World War and is expected to worsen in the coming years.
According to Dalio, “the US government is expected to refinance about $10 trillion in obligations maturing this year, while also borrowing a further $2.1 trillion. With such a large volume of debt coming due, even a relatively small decline in investors’ willingness to reinvest the proceeds they receive from maturing bonds could create a significant funding gap”.
Dalio has long warned of an impending debt crisis in the US and has argued that “investors should sell bonds and buy gold”.
According to the financial calendar, the next ECB meetings and announcements are scheduled for 29 October and 17 December 2026.
The corresponding Fed meetings are scheduled for 28 October and 9 December 2026.
The next scheduled monetary policy meetings of the BoJ are on 30 October and 18 December, and those of the BoE on 5 November and 17 December.
The General Index moved between 2,620.51 (+0.84%) and 2,594.03 points (-0.18%). At 5 p.m. it stood at 2,605.45 (+0.26%) and closed at 2,603.7 points, up 0.19% on the day.
Turnover was €255.8 million, of which €22.7 million came from block trades (BELLA, KRI, AIA, PIRAEUS, CCC, MOTOR OIL, EYATH, ALPHA, EUROBANK, NBG). PIRAEUS, NBG, BELLA and MOTOR OIL accounted for 42% of total gross trading value.
Of total turnover of €255.8 million, €238.8 million was in FTSE 25 stocks.