Lightning war (German: Blitzkrieg) was a military tactic of surprise and rapid advance developed by Germany during World War II. In lightning war, forces participated that in the past had not constituted the main bulk of military forces. It was based on the combination of strong armored motorized units and air support, aiming at the rapid breakthrough of enemy lines and the paralysis of defense before it could organize.
The original inspirer was the German field marshal Erich von Manstein and the absolute implementer of “Blitzkrieg” was the German general Heinz Guderian.
“Blitzkrieg” seems to be underway also in the Greek Stock Exchange, which continued its climb on the “wall of worry”, driven by the “heavy papers”, that is, the index-heavy stocks, while medium and smaller capitalization remain in the role of spectator, with few exceptions, which “have interested forces behind them”.
The “million-dollar question” is how far this “one-sided” upward movement can go and whether a very large part of the board has definitively gone out of the “game” and interest, with whatever that may entail.
Beyond that, the last session of the week was also clearly upward, with the main indices of the ASE moving permanently in positive territory, while the close of trading found the General Index at new 200-month highs, with the immediately higher close having been recorded on 13/11/2009 (2588.71 points) and the banking sector index at 128-month highs, with the immediately higher close having been recorded on 16/11/2015 (3073.8 points).
Trading activity at relatively lower levels (the lowest turnover of the last four sessions), with the today's holiday on Wall Street (Independence Day) as an “alibi”, while the visible retreat of indices and individual titles from the day's highs also remains a question mark today.
According to domestic analysts, “the positive climate abroad, even if doubts continue to exist about valuations in the artificial intelligence sector, the continuing decline in oil prices, combined with positive reports on Greek stocks from domestic and foreign investment houses, are reasons for the market's rise. On the other hand, the continued oversubscription of share capital increases and bond issues confirms capital inflows into the ASE.”.
Also on the positive side is the picture of buyers returning to the index-heavy banking board, something for which the column had warned, stating that “it is considered a matter of time before buyers return to bank stocks, as the ‘buyers’ will rush to price in the satisfactory first-half results that are expected”.
According to the financial calendars of the index-heavy 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 (it also announces payment of an interim dividend) and on 6/8 CREDIA.
It is recalled that "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 canceled. The public offering starts on Monday, July 6, 2026 and is completed on Wednesday, July 8, 2026. Between 4.9% and 5.2% was set as the yield range for Seanergy's bond. Trading of the new bonds will begin on Monday, July 13, 2026.
According to information, “two shipping companies are at the stage of submitting the file for entry into the ASE.”
Beyond that and according to what is being heard in brokerage offices, the “barrage” of announcements of share capital increases and bond issues “is forcing companies that had scheduled capital strengthening for later in the year to expedite their moves, as no one knows what the climate will be internationally and in Greece in the autumn”.
Meanwhile, according to the statement of the Hellenic Capital Market Commission and regarding net short positions exceeding 0.5%:
JP Morgan Asset Management (UK) Ltd remains with a net short position of 0.80012% in the stock of MTLN, AKO Capital LLP with a net short position of 1.31857% in the stock of MTLN, Qube Research & Technologies Limited, with a net short position of 0.74346% in the stock of BYLOT, Qube Research & Technologies Limited, with a net short position of 0.71317% in the title of ADMIE and Marshall Wace LLP, with a net short position of 0.69377% in the stock of MTLN.
As of 2/7/2026 Arrowstreet Capital Limited Partnership reduced its net short position in the stock of QLCO to 0.49408%, from 0.50525%.
With positive signs, but relatively far from the intraday highs, the main European markets, with the “advantage” of Europe's lower exposure to technology stocks and the new de-escalation in oil prices.
It should be noted that DAX, EuroStoxx 50, EuroStoxx 600, Dow Jones completed yesterday's trading at new all-time highs.
Meanwhile, “Tesla, Caterpillar, semiconductor manufacturer Applied Materials and an ETF that tracks shares of microchip manufacturers are among the latest bearish ‘bets’ announced by Michael Burry (The Big Short). These positions are part of a ‘bet’ that has been taking shape for months and aims to reap profits in case the excessive optimism around artificial intelligence recedes,” writes the WSJ.
With mixed trends, yields in the bond market. Due to the holiday, the yield on the US 2-year note is balancing at 4.14%, at 4.48% for the corresponding 10-year, (the yield on the 30-year at 4.99%). The yield on the Greek 10-year note is climbing to 3.606%.
Staying with government securities, on Wednesday, July 8, 2026, an auction of 13-week Treasury bills of the Hellenic Republic will be held, in dematerialized form, in the amount of 400 million euros, maturing on October 9, 2026.
The General Index moved permanently in positive territory, recording a daily high at 2543.71 points (+1.53%). At 17.00 it stood at 2536.31 (+1.23%) and completed trading at 2537.23 points, with daily gains of 1.27%.
Turnover at 259.8 million, of which 25.7 million concern pre-agreed transactions (CENER, BOCHGR, TITC, AKTR, BYLOT, OPTIMA, ΑΔΜΗΕ, ΠΕΙΡ, ΣΑΡ, ΑΡΑΙΓ, ΔΑΑ, ΦΡΛΚ, ΕΛΠΕ, ΜΠΕΛΑ, ΜΟΗ, ΚΟΥΕΣ, ΒΙΟ, ΕΤΕ, ΕΛΠΕ, ΟΤΕ, ΕΥΡΩΒ, ΑΔΜΗΕ), with GEKTERNA, ETE accounting for 27% of the total gross transaction value.
Of the total turnover of 259.8 million, 232 million concern transactions in FTSE25 shares.
Beyond that, today's was the last session of the week, which proved upward, crediting the General Index with weekly gains of 3.59% and the banking sector index with gains of 4.69%. Since the beginning of the year the GI records gains of 19.64% and the DTR gains of 24.79%.