Session of alternating buying interest (rotation), which was “colored” by corporate actions and was accompanied by the highest turnover of the last six sessions, albeit with the significant help of “packages”.
According to Market sources, “the first session of the second stock market half-year could even be characterized as a positive surprise, as the Domestic Market was able to overcome the cautious picture of the European Stock Exchanges, as well as the significant dividend detachments in index-heavy titles.
Starting from large capitalization, from today, the shares of TITC (-1.92%) were traded without the amount of €1.10 per share, OTE (-3.35%) without the amount of €0.90214 euros per share (net amount: €0.857033 euros per share), ELPE (-2.44%) without the amount of €0.400393 per share (net amount: €0.3803734 per share) and ALPHA (+0.30%) without the amount of €0.0655980839 per share (net amount: €0.0623181797 per share).
On the other hand, GEKTERNA (+3.09%), announced “the successful completion of the private placement of 15513493 new shares to Special, Institutional and other Eligible investors who participated in the accelerated bookbuilding process, with exclusion of the pre-emption right of the Company’s existing shareholders. The offering price of the new shares was set at €42.50 per new share. Responding to strong demand from high-quality investors, the Company increased the size of the private placement, raising €659,323,452.50, approximately 32% above the €500 million it had initially planned to raise. Total demand at the offering price amounted to approximately €3 billion. The difference between the nominal value and the offering price of the new shares, totaling €650,480,761.49, will be credited to the Company’s equity account ‘Share premium reserve”.
According to Market sources, “the increase in free float resulting from the capital increase opens the way for GEKTERNA’s inclusion in the MSCI Developed Markets index, a development that will strengthen liquidity and attract new capital from International portfolios”.
On the other hand, "Seanergy Maritime Holdings Corp." proceeded with a public offering in Greece, with payment in cash and admission to trading in the fixed income securities category of the Regulated Market of Euronext Athens of its bonds, with the issuance of a five-year bond loan. The issuance of up to 100000 dematerialized, registered, common bonds is envisaged, with a nominal value of €1,000 each and a total amount of up to €100 million. In the event of partial coverage in an amount less than €75 million, the issue will be cancelled. The public offering starts on Monday, July 6, 2026 and is completed on Wednesday, July 8, 2026.
“The capital increases that have been completed, or have already been announced, including the upcoming corporate actions of AKTR and ElvalHalcor, within July, now amount to 7.46 billion euros. If corporate bond issues are also added, the total amount of capital that has been raised, or will be raised through the Market, reaches 8.36 billion euros, offering a strong financing boost to Listed Companies. Even if no other similar transaction takes place by the end of the year, 2026 is already a landmark year for the Athens Stock Exchange.
The Market has fully regained its dual role as a ‘machine’ for raising capital and attracting investors from abroad. This role is in fact being successfully fulfilled for everyone: The increases are oversubscribed, investors have an immediate capital gain result on their moves and the activity continues, until perhaps the ‘chain’ of positive returns is broken. In any case and regardless of short-term fluctuations, the ‘machine’ has well and truly started up and the momentum is being strengthened by new ‘ideas’ that keep interest high”, as Beta Sec. points out.
On the other hand and according to information from brokerage offices. “moves – capital reinforcements that were being scheduled for later in the year, appear to be brought forward, as no one knows what the climate will be like internationally and in Greece, in the Autumn”.
For the “next day” in the ASE, Elias Zacharakis conveys his estimates in the column, according to whom, “the ‘cheap’ and the ‘expensive’ in the Stock Exchange are two of the most misunderstood concepts.
Tesla for many was always expensive. And yet, those who focused on its future prospects and not on current valuation indicators achieved returns that very few stocks have offered.
In the Greek Market we see the same phenomenon. Many characterize Karelia as “cheap” due to its financial figures and its quality, however its stock market course does not always align with this view.
On the other hand, Companies such as AKTR, or CREDIA are characterized by many as “expensive”, but this did not prevent the Market from valuing them higher, when expectations for their future changed.
The same happened with GEKTERNA. For a long period the Market valued it much lower. Then, its valuation skyrocketed. Did the Company change so dramatically within a few months? Not necessarily. What changed was the way in which the Market began to value its future projects, cash flows, the value of its holdings and growth prospects.
Even more characteristic is the case of PPC. A few years ago many were even discussing its viability, with its valuation moving close to 400 million euros. Today, together with the value of ADMIE that was spun off, the total valuation exceeds 15 billion euros, while the Company managed to raise billions of euros from the Market through capital increases and bond issues.
No “miracle” happened overnight. The strategy changed, the financial figures improved, the business model was transformed and above all, the way in which the Market valued its future changed.
But there is also something even more fundamental that is often overlooked: for a Listed Company to have real meaning, it must also serve its own institutional role. It is not enough to produce numbers. It needs sufficient dispersion, modern corporate governance, Management with vision, transparency and substantial respect towards its shareholders.
The Listed Company is not a “Private shop”, but an Organization that raises capital from the Market and is obliged to operate with rules and responsibility.
When Companies understand this in depth, then the Market too will see them differently. It will not value them only on the basis of their numbers, but also on the basis of the quality of Management, the stability of strategy and the way they respect the Investing Public. Because ultimately, every correct step in this direction can also create additional capital gains.
On the contrary, when the logic prevails that “the Company is our own affair” and not a public institution with obligations to all shareholders, then the Market hardly trusts and even more hardly assigns the capital gain that could potentially be created.
Many seek the “right” price of a stock. The reality, however, is that the only “right” price, at any given moment, is the one shown on the board. This is the price at which buyers and sellers agree to trade.
Valuation is not a static size, nor a mathematical certainty. It is the Market’s collective assessment of the present and above all, of the future. That is why it changes daily.
If there were one and unique “fair” price for every stock, then essentially there would be no Stock Exchange. The Market would be dead, with the price remaining motionless and changing only when results were published, or some significant development arose.
But reality is different. Every day thousands of investors value differently the same Asset, based on their expectations, information, experience and risk tolerance. It is precisely this different assessment of value that creates transactions and gives life to the Market.
The big returns do not arise because someone simply bought a ‘cheap’ stock. They arise when the real value of a Business proves to be much greater, than what the Market had priced in. And the Market sooner or later recognizes this value”, according to Mr. Zacharakis (chairman and chief executive officer of Fast Finance AEPEY).
From that point on, the “entry” of the new month will intensify discussions in brokerage offices, which will focus on the forecasts – estimates of the Banking results of the first half, which are expected to be satisfactory and may bring new reports, with upgraded target prices for the sector.
According to the financial calendars of the Heavyweight Banks and if there are no last-minute changes, on 29/7 PEIR announces first-half results, on 30/7 ETE, EUROB and OPTIMA, on 31/7 ALPHA, on 4/8 BOCHGR (also announces payment of interim dividend) and on 6/8 CREDIA.
The main European Markets are moving with mixed signs and evident caution, with active investors trying to price the data on the course of inflation across the Eurozone as a whole, while also monitoring the bond market.
More specifically, in the Eurozone as a whole, the CPI “ran” at an annual rate of 2.8%, falling noticeably from the previous 3.2%, while economists’ converging estimates had forecast a smaller decline to 3%.
Change of scene, with an upward movement in yields in the bond market, for all Issuers. The yield on the US 2-year note at 4.18%, on the corresponding 10-year at 4.48%, (the yield on the 30-year at 4.97%). The yield on the Greek 10-year note at 3.576%.
On the other hand, “the Global mergers and acquisitions market (M&A) recorded an impressive rise in the first half of 2026, with the total value of deals reaching $2.6 trillion, increased by approximately 30% compared to the corresponding period of the previous year”, according to data compiled by Bloomberg.
It should be noted that the EuroStoxx 600, Dow Jones, Russell 2000 indices completed yesterday’s trading at new all-time highs.
Returning to the ASE, the General Index moved between 2444.86 (-0.61%) and 2484.48 points (+1%). At 17:00 it stood at 2483.97 (+0.98%) and completed trading at 2481.33 points, with daily gains of 0.88%.
Turnover at 335.4 million, of which 90.5 million concern pre-agreed transactions (BOCHGR, AKTR, QLCO, GEKTERNA, ADMIE, ETE, TRASTOR, PPC, EUROB, ALPHA, PEIR, PROF, KOUAL, ELPE, ANDRO, EKTER, PETRO, PLATH), with GEKTERNA, ETE, ALPHA, PEIR accounting for 60% of the total gross transaction value.
Of the total turnover of 335.4 million, 312.1 million concern transactions in FTSE 25 shares.