Athens Stock Exchange Nears 14-Year Highs on Bank Rally
ΧΡΟΝΟΣ ΑΝΑΓΝΩΣΗΣ 2 '
Πηγή Φωτογραφίας: [371194] ΧΡΗΜΑΤΙΣΤΗΡΙΟ (ΜΙΧΑΛΗΣ ΚΑΡΑΓΙΑΝΝΗΣ / EUROKINISSI)
The Athens Stock Exchange surged to near 14-year highs on Friday, January 3rd, driven by strong performance in bank stocks.
The General Index closed at 1,486.83 points, a 0.4% gain, and within striking distance of its May 2023 peak of 1,502.79. This marks a seven-month high and puts the index less than 1.1% away from reclaiming 14-year highs last seen in April 2011. The weekly gain for the General Index was a robust 2.02%.
The banking sector fueled the rally, with the banking index reaching its highest level since July 2023. Eurobank continued its impressive run, hitting a new 9-year high, while Piraeus Bank neared the €4 mark. Attica Bank also saw significant gains, jumping 8% to close above €0.75, with its market capitalization exceeding €1.25 billion.
Beyond banks, ElvalHalcor posted another strong gain following its 6.25% rise the previous day. Other notable performers included Lamda Development, Aegean Airlines, Viohalco, EHAE, and Ekter.
This positive performance contrasted with the generally downward trend in other European markets. The Athens Exchange will be closed on Monday, January 6th, for the Theophany holiday.
Aktor Group’s upcoming €200 million capital increase was also in focus, with the prospectus published and shares set to trade ex-rights on Tuesday, January 7th. The offering will allow existing shareholders to purchase new shares at €4.60 each.
While Wall Street experienced its fifth consecutive day of losses on Thursday, primarily impacting technology stocks, U.S. markets showed signs of recovery on Friday with gains across major indices.
