Athens Stock Exchange jumps 2.08% to 2,500 points as bank stocks rally

Index reclaims 2,500

The Athens Stock Exchange General Index closed at 2,500.79 points on Tuesday, a gain of 2.08%. The advance erased the losses of the previous week and pushed the market back to the 2,500 level for the first time in several sessions. Turnover reached €376.1 million, with 54.6 million shares changing hands. The high-capitalisation index rose 2.25% to 6,364.29 points, while the mid-cap index edged up 0.07% to 3,036.72 points.

Bank rally drives gains

Bank stocks were the session's standout performers. The sector index jumped 4.29% to 2,847.64 points. Eurobank led with a 6.18% gain, followed by Piraeus (+5.62%), Alpha Bank (+4.70%) and National Bank (+3.48%). Optima Bank added 1.69%, while CrediaBank slipped 0.31% and Bank of Cyprus was unchanged. The rally was fuelled by target-price upgrades from Morgan Stanley, Goldman Sachs and HSBC ahead of second-quarter 2026 results. Morgan Stanley reiterated its positive stance on the sector, keeping price targets at €4.9 for Eurobank and Alpha Bank, €11.3 for Piraeus, €17.2 for National Bank and €1.16 for CrediaBank. HSBC, while cautious on Greek equities overall, acknowledged the banks' resilience.

Oil and geopolitics

Broader sentiment drew support from stabilising oil prices. Brent crude rose 1.9% to $90.92 a barrel and US WTI gained 2% to $84.96. The moves followed reports of a Trump administration plan for a ten-day ceasefire in the Middle East aimed at opening talks on a permanent agreement for the Strait of Hormuz. Renewed attacks between the US and Iran, along with Houthi threats of a naval blockade against Saudi Arabia, kept supply concerns alive. European equity markets were little changed, while Wall Street opened higher, with the Dow Jones up 101 points (0.2%), the S&P 500 up 0.4% and the Nasdaq up 0.8%, supported by semiconductor stocks and strong earnings.

Aktor plunges on capital increase

Aktor was the session's worst performer among high-cap stocks, tumbling 9.98% to €11.72. The drop came as the company launched a €650 million share capital increase, the largest in its history. Other non-bank blue chips were mixed: Jumbo rose 2.16%, Allwyn gained 1.22% and Cenergy added more than 1%, while EYDAP fell 1.32%, Viohalco lost 0.92% and Piraeus Port Authority slipped 0.90%.

Market breadth and turnover

Overall, 60 stocks advanced, 43 declined and 18 were unchanged. National Bank recorded the highest transaction value at €76.89 million, followed by Eurobank at €55.03 million. Eurobank and Alpha Bank saw the heaviest volumes, with 12.7 million and 10.7 million shares traded respectively. Total market capitalisation increased by €2.9 billion from the previous session.