Athens Stock Exchange Hits 15-Year Highs Fueled by EU-US Trade Deal

Buyers are confidently pushing the Greek stock market higher, closely following the strong performance of European markets, which have reached a four-month peak. The recently announced trade agreement between the United States and the European Union has energized global stock exchanges by preventing an impending trade war. Notably, the Trump–von der Leyen deal includes the imposition of a 15% tariff on most European goods imported into the US.

On Monday, July 28, the Athens General Index gained +0.62%, trading at 1,980.98 points. The daily range was limited to just 8 points, with a high of 1,988.14 and a low of 1,980.84.

Despite some weekly losses, the Athens Stock Exchange remains near its yearly highs and is tantalizingly close to the 2,000-point milestone, a level unseen since April 2010. With four trading sessions left this month, the market is on track for its ninth consecutive month of gains, advancing at +5.4% in July and nearly +34% year-to-date.

Bank stocks are in the spotlight as major banks prepare to release their quarterly financial results this week. The banking index stands at a 10-year high, with an impressive +66.3% return so far this year. Eurobank and National Bank of Greece have climbed back to price levels last seen in November 2015, with market capitalizations estimated at €11.76 billion and €11.17 billion respectively. Bank of Cyprus set a new historic high, nearing a valuation of €3 billion.

Construction giant Aktor hit a 16-year peak (since October 2009), stabilizing above €6 per share, while water utility EYDAP reached a two-year high, trading above €7, propelled by government plans for the water sector. The electricity grid operator ADMIE also closed last Friday at a record level, trading intraday above €3.4.

Meanwhile, the listing of Metlen PLC on the London Stock Exchange (LSE) is nearing completion, with over 90% acceptance of the public offer reported. Official results will be announced on Tuesday, July 29, followed by settlement on Friday, August 1. Metlen’s LSE debut is scheduled for Monday, August 4, alongside continued trading on the Athens Stock Exchange.

Today, the Athens Exchange Operator (EXAE) will release its first half and second quarter financial results after market hours. Upcoming earnings announcements include Metlen, Piraeus Bank, and Motodynamics on Wednesday, July 30; Eurobank, National Bank, Titan, and MIG on Thursday, July 31; and Alpha Bank along with Optima Bank on Friday, August 1.

Source: pagenews.gr