Athens stock index reaches 17-year high on 29% nine-month gain before October pullback

Nine-month rally reaches 17-year highs

The Athens Stock Exchange concluded the third quarter of 2026 at its highest level in nearly 17 years. On 30 September 2026, the General Index on Euronext Athens closed up 1.05% at 2,738.35 points, having reached an intraday peak of 2,745.54 points (up 1.31%). The closing level represents the strongest benchmark figure since 26 October 2009, when the index stood at 2,781.13 points. September marked the sixth consecutive monthly advance for the Greek equity market, gaining 2.28% over the month. Across the first nine months of 2026, the General Index accumulated an overall increase of 29.12%, extending a bull market that began in 2021. If positive momentum holds through the fourth quarter, 2026 will register as the market's sixth consecutive profitable year, reversing the losses accumulated during the previous decade.

Performance across sectors and global comparison

Greece's 29.12% nine-month gain outpaced several international equity benchmarks over the same period. In the United States, the S&P 500 index rose 12.3%, while the pan-European Stoxx 600 recorded a 6.9% increase. Domestic banking equities served as a primary driver of the Greek market's trajectory throughout the year. The Athens banking index climbed 6.80% in September to reach an 11-year high, bringing its cumulative advance for the nine-month period to 45.83%. Total market capitalization on the Athens exchange expanded by 6.216 billion euros during September. Supportive catalysts during the nine months included domestic economic growth, fiscal discipline, corporate deal activity, attractive valuations, and corporate earnings concentration where 25 listed companies generated 94% of total exchange profitability.

Trading volume and stock movements

Trading activity accelerated sharply during the final session of September. Total daily turnover on 30 September 2026 reached 638.88 million euros, with block trades accounting for 78.59 million euros across 80,305,774 exchanged shares. Eurobank posted the highest turnover at 101.412 million euros on 20,538,910 shares traded, followed by Piraeus Bank with 97.81 million euros, while CrediaBank traded 14,511,263 shares. Large-cap and mid-cap indices advanced 1.06% and 1.07% respectively, with 67 stocks gaining, 48 falling, and 13 remaining unchanged. Among high-capitalization components, Athens International Airport rose 6.23%, Piraeus Port Authority added 4.06%, Hellenic Petroleum gained 3.62%, Optima Bank rose 2.64%, and Lamda Development advanced 3.34%. In contrast, Aktor declined 1.43% and Titan fell 0.81%. Across the wider market, Chaidemenos gained 9.89% and Spyrou rose 9.38%, while Mevaco dropped 18.96% and Doppler lost 9.55%.

Developed market upgrades and October opening pullback

The market's structural positioning received support from international index classifications during September. Three global index providers (STOXX, FTSE Russell, and S&P Dow Jones Indices) officially reclassified the Greek market into their developed market categories, with MSCI scheduled to implement its transition in May 2027. Despite the nine-month advance, the first trading session of October brought an immediate pullback. In morning trading on 1 October 2026, the General Index dropped 1.82% to 2,688.52 points on 29.4 million euros in turnover. The retracement reflected broader European market declines on persistent inflation concerns, elevated bond yields, and Brent crude oil returning to 100 dollars per barrel. On 30 September, Germany's DAX had fallen 0.79% to 25,199 points, France's CAC 40 dropped 0.89% to 8,088 points, and Italy's FTSE MIB decreased 0.84% to 51,371 points.