Today’s session on the Greek stock market was marked by repeated swings between gains and losses, with sellers taking more initiative in the second half of trading. Support from the closing auction was needed to push the index back above the psychologically important 2,600-point level.
In any case, the close left the banking index at a new monthly high, with its next-highest close recorded on 6 October 2026, at 3,260.84 points.
Judging by the banking index’s final 0.55% gain, it would be easy to argue that today’s advance was also driven by banks, but it did not have the expected impact on the General Index.
Other features of today’s session included continued lacklustre performance among mid- and small-cap stocks, as well as further intraday lows for the Athens Stock Exchange General Index after 16:00.
What happened today in EEE (-14.12%) was nothing short of remarkable. The stock opened higher, climbing to €60.40 (+2.72%) as it sought to close at a new record high. But after 13:00, aggressive sellers emerged, pushing the share down to €50.20 (-14.6%) and triggering repeated A.M.E.M. auctions.
The trigger was news of the transfer of shares in Japan Tobacco Inc., the world’s third-largest tobacco company, to a Russian company (the shares of Donskoy Tabak, Pereslavl-Tabak, JTI Yelets, Kres Neva and Petro are being placed under external administration, and a relevant decree was published in the Russian government gazette). The decision is part of a series of similar Kremlin moves against foreign companies.
The Russian newspaper Kommersant has revealed that “Bochkari has asked Vladimir Putin to place two Coca-Cola HBC companies in Russia, Multon and Multon Partners, under temporary external administration”.
Coca-Cola HBC has 10 soft-drink and juice plants in Russia, with total capacity of 2.2 billion litres a year. Three are in Moscow and one in Rostov, near the border with Ukraine. The Russian business accounted for about 14% of total revenue in 2025. In early July 2026, cash holdings in Russia stood at €1.04bn, up from €850.2m at the end of 2025. About 85% is held in roubles.
As Reuters notes, the decree follows Russia’s decision in September to place the assets of Swiss food giant Nestlé, German wholesaler Metro AG and French retailer Auchan under temporary administration.
In London, Coca-Cola HBC shares are down 13.85%.
Turning to pre-agreed trades, a block of 35 million shares in ΠΕΙΡ (-0.24%), or 2.83% of the total shares, changed hands at €9.51 a share as the session opened. The block was worth €332.85m.
This was John Paulson’s placement, carried out yesterday through JP Morgan, with international funds taking positions, boosting the stock’s free float.
Selling pressure on refinery stocks is intensifying (ΕΛΠΕ -4.64%, ΜΟΗ -4.64%), as Brent remains well below $100 a barrel despite today’s rebound, while refining margins are also under pressure.
Today’s session also showed that bank earnings and management briefings on the year-end and 2027 outlook will keep the sector’s shares in focus, as was evident today.
Of the remaining bank results, OPTIMA is due to report on 11 November 2026 and CREDIA on 12 November 2026.
On Friday, 6 November, Fitch will announce its verdict on Greece’s credit rating.
The “Mid Cap Conference” will also be held in Athens on 10 November.
Twenty-two companies will take part in the presentation: Alter Ego Media, Alumil, Avax, BriQ Properties, Capital Maritime Finance, EKTER, Ideal, Interlife, Kri-Kri, Lavipharm, Noval Property, ONYX, Orilina, Performance Technologies, Premia, Profile, Qualco, Real Consulting, Thrace Plastics, Safe Bulkers, Trade Estates and Trastor.
Investors are awaiting an announcement from MSCI on its quarterly index review. The announcements will be made late in the evening on 11 November 2026, with the changes taking effect on 1 December 2026. Investors will rebalance their positions on Monday, 30 November 2026.
FTSE Russell will announce its index reconstitution on 13 November, with rebalancing on 18 December.
The baton passes to London on 30 November and 1 December, when the Morgan Stanley & Euronext Athens Greek Investment Conference 2026 will be held.
According to a technical analyst who is a close contributor to this column, “markets and others welcomed the results of the US midterm elections with particular pleasure and relief, at least initially. Traditionally, periods of political ‘cohabitation’ are favourable for markets, as surprises are limited and economic measures are more ‘balanced’ to secure passage. But given Trump’s character, inaction does not seem the most likely scenario, while the President is hardly known for his democratic sensibilities. He will continue to govern by executive order, as he has done so far. On the other hand, the Democrats’ emphatic victory in Texas may delay ambitious investment programmes for data centres, and Wall Street will start pricing that in as of today”.
Major European markets were mixed and well off their opening highs, as traders tracked oil prices, government bond yields and the start of trading on Wall Street, which was deep in the red.
More specifically, the yield on the US two-year Treasury fell to 4.61%, while the 10-year yield stood at 4.90% and the 30-year at 5.28%. The Greek 10-year yield was 4.12%, compared with 4.79% for the equivalent French bond.
The Bank of England raised interest rates by 25 basis points to 4.00% at today’s Monetary Policy Committee meeting, marking its first increase since August 2023.
The next central bank meetings scheduled for the rest of the year are: the Fed on 9 December 2026; the ECB on 17 December 2026; and the BoE and BoJ on 18 December 2026.
It is worth recalling that eurozone countries have until tomorrow to submit nominations for the position of next president of the European Central Bank. Finance ministers from countries that have adopted the euro are expected to consider the nominations at the Eurogroup meeting on 9 November.
On the corporate earnings front, according to Beta Sec., “Airbnb and Cloudflare report today after the NYSE close. On Friday, 6 November, Moderna reports before the open and Wheaton Precious Metals after the close”.
The General Index traded between 2,683.98 (+0.81%) and 2,597.13 points (-2.45%). At 17:00 it stood at 2,597.13 (-2.45%) and ended the session at 2,611.41 points, down 1.92% on the day.
Turnover was €734.2m, of which €369.2m came from pre-agreed trades (OPTIMA, CREDIA, BOCHGR, ΠΕΙΡ, ΜΟΗ, ΕΥΡΩΒ, ΕΛΠΕ, ΕΤΕ, ΑΛΦΑ, ΔΑΑ, ΑΔΜΗΕ), with ΠΕΙΡ, ΕΤΕ and ΕΥΡΩΒ accounting for 74% of total gross trading value.
ΠΕΙΡ accounted for 57.25% of total gross trading value.
Of total turnover of €734.2m, €717.7m was in FTSE 25 shares.