For the second consecutive session, the Athens Stock Exchange’s main indices remained in positive territory throughout, moving in step with the upbeat mood across European markets and outperforming them. The banking sector (+1.86%) again led the recovery, while buying interest broadened to a small number of additional blue chips.
The “final flourish”, as is customary in “thin” markets, came from the closing auctions, which took the Greek bourse’s main indices, as well as five large-cap stocks, to their intraday highs.
Oil prices continue to ease after US President Donald Trump played down the need for military action against Iran at this stage and said there was momentum towards ending the conflict.
Meanwhile, according to a Reuters poll, 71% of Americans, 93% of Democrats and 51% of Republicans want Congress to pass legislation to end the war in Iran. Some 62% said they would support an effort to repeal the tariffs imposed by the Trump administration.
It is worth noting that the Euro Stoxx and DAX indices are moving back towards their record closing highs.
On the other hand, an analyst known for cautious forecasts said: “The risk for markets is that a positive outcome on developments in the Middle East is priced in too quickly, as any signs that negotiations are failing could trigger another sharp rise in oil prices as investors reassess geopolitical risks. There is still a significant gap between diplomatic activity and reaching a lasting peace agreement”.
Turning back to the domestic market, Safe Bulkers reported strong third-quarter results, while Sarantis also reported results, but cut its full-year target compared with its previous estimate.
Other features of today’s session included a gradual “awakening” among more large-cap stocks, while mid- and small-cap stocks continued to lack momentum, despite many market professionals continuing to hope for valuations to “catch up”, even if with a considerable delay.
Of the remaining bank results, OPTIMA is due to report tomorrow and CREDIA on 12/11/2026.
Investors are also watching the systemic banks’ scheduled interim dividend distributions: on 16/11, National Bank of Greece goes ex-dividend for a gross interim dividend of 0.26 per share; on 21/11, Piraeus Bank for a gross interim dividend of 0.10 per share; on 23/11, Eurobank for a gross interim dividend of 0.0599 per share; and on 30/11, Alpha Bank for a net interim dividend of €0.0525193880 per share.
Among the other, non-bank results due, AustriaCard reports tomorrow. On Thursday, 12 November, Premia Properties and HelleniQ Energy take their turn to report.
The “Mid Cap Conference” took place in Athens today.
Twenty-two companies took 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.
There is keen interest in MSCI’s announcement on its quarterly review of its indices. The announcement is due late tomorrow evening, with changes taking effect on 1 December 2026. Investors will rebalance their positions on Monday, 30 November 2026.
Announcements on FTSE Russell’s index reconstitution are due on 13/11, with rebalancing on 18/12. The next review will take April 2027’s average market capitalisation into account.
The main difference between the two providers is that MSCI has yet to upgrade the Athens Stock Exchange; that is expected next May, unlike FTSE Russell, which has already classified it as a developed market.
The MSCI Greece Standard currently has ten stocks: Eurobank, Alpha Bank, National Bank of Greece, Piraeus Bank, PPC, OTE, Jumbo, GEK TERNA, Motor Oil and Allwyn.
On 30 November and 1 December, attention will turn to London for the Morgan Stanley & Euronext Athens Greek Investment Conference 2026.
Meanwhile, according to the latest AXIANumbers data for October 2026:
A total of 3,414 new client and registered intermediary accounts were opened, compared with 3,352 new accounts in September. Collective client accounts as a whole (registered intermediary accounts and insurance accounts) hold €7.07bn, or 4.47% of the total portfolio value.
Foreign account holders recorded inflows of €145.23m in October 2026, while domestic account holders recorded outflows of €145.23m in the same month.
It is worth noting that foreign account holders recorded inflows of €472.22m in September 2026 (due to the triple rebalancing that took place), inflows of €50.45m in August 2026, outflows of €159.57m in July 2026, inflows of €158.27m in June 2026 and inflows of €305.70m in May 2026. These followed three consecutive months of outflows from foreign portfolios: €80.87m in April 2026, €60.93m in March and €95.38m in February 2026. Foreign account holders recorded inflows of €137.05m in January 2026.
Foreign account holders accounted for 69.67% of portfolio value, while domestic account holders accounted for 30.33%.
The countries with the highest portfolio values (client accounts) in October 2026 were the US, with a total portfolio value of €27.14bn, Cyprus, with a portfolio value of €16.10bn, and Luxembourg, with a portfolio value of €10.47bn.
Foreign account holders accounted for 72.6% of total transactions (purchases and sales) in October 2026, down from 79.4% the previous month, while domestic account holders accounted for 27.4%, up from 20.6% the previous month.
Meanwhile, according to the Hellenic Capital Market Commission’s report, among net short positions exceeding 0.5%:
Qube Research & Technologies Limited continues to hold a net short position of 0.79475% in BYLOT shares, 0.90403% in AKTR shares, 0.50226% in LAMDA shares, 0.7016% in CREDIA shares and 0.69399% in ADMIE.
As of 9/11/2026, AKO Capital LLP increased its net short position in MTLN shares from 1.05351% to 1.10387%.
Major European markets traded higher, with traders taking their cue from oil prices, government bond yields and the latest macroeconomic data.
More specifically, the consumer price index (CPI) rose by 0.4% in the US last month compared with September. The average forecast in a Reuters poll of economists had pointed to a 0.3% increase. Core inflation, which excludes food and energy, rose by 0.3%, above the 0.2% increase analysts had expected. No year-on-year comparison was given because the October reading was not published last year due to the government “shutdown”.
The CPI data prompted a rebound in yields in the government bond market for US securities. More specifically, the yield on the US two-year note rose to 4.69%, that on the 10-year to 4.94%, and that on the 30-year to 5.30%. The Greek 10-year yield stood at 4.085%, while the equivalent French yield was 4.71%.
“The European economy has to navigate an environment of higher capital costs, energy pressures and increased investment needs,” said Kyriakos Pierrakakis, Minister of National Economy and Finance and president of the Eurogroup. In an interview with Euronews’ “Europe Today”, he noted that “the era of cheap money is over, as average yields on 10-year bonds have risen from 1.1% in 2016 to around 4% today”.
It is worth recalling that US bond markets will be closed on Wednesday for Veterans Day, while stock markets will trade as usual.
The next central bank meetings scheduled before year-end are the Fed’s on 9/12/2026, the ECB’s on 17/12/2026, and those of the BoE and BoJ on 18/12/2026.
The General Index remained in positive territory throughout, climbing as high as 2,640.88 points (+1.20%). At 17.00 it stood at 2,632.84 (+0.89%) and ended the session at a new high of 2,642.07 points, up 1.24% on the day.
Turnover reached €405m, of which €83m came from pre-agreed transactions (CENER, TITC, CREDIA, BOCHGR, AEM, OTE, KRI, DEI, PEIR, EUROB, GEKTERNA, BELA, ALFA, ETE, ADMIE). Piraeus Bank, Eurobank and National Bank of Greece accounted for 55% of total gross trading value.
PEIR accounted for 27% of turnover.
Of the total turnover of €405m, €390.1m related to trading in FTSE 25 stocks.