A Return Above 2,000 Points: A Psychological Milestone for the ASE
The Greek stock market posted its second consecutive day of gains, confirming that last week’s steep drop created attractive valuations and a window for repositioning.With improving sentiment in global markets and positive reports from both domestic and international analysts, the Athens Exchange climbed back above the psychologically important 2,000-point level, closing at 2,019.25 (+1.15%).
The move represents a technical rebound and rebalancing of last week’s distortions, when blue chips like OPAP, Metlen, and Alpha Bank lost more than 10% of their value.
Buyers in Control – Banks Lead the Charge
The session was marked by strong demand across banking, energy, and industrial sectors.The FTSE 25 advanced 1.25% to 5,099.23 points, while the banking index rose 1.79% to 2,326.79 points, after touching an intraday high of +2.51%.
Trading activity was robust at €240.9 million, with over half (€127.3 million) concentrated in bank stocks.Alpha Bank led turnover with €36.9 million, followed by Piraeus (€34.5m), National Bank (€29.4m), and OPAP (€18.9m). Eurobank and Jumbo also exceeded €18 million, while Metlen traded €13.6 million.
Analyst Upgrades and the Metlen Rebound
Alpha Finance issued a positive note on the outlook for the Greek market, highlighting “solid fundamentals and attractive valuations.” Meanwhile, Citi and Axia Research released upbeat reports on Metlen, calling the stock’s recent sell-off “overdone.”
Following a 10.29% decline last week, Metlen rebounded +2.24% to €42.84, reaching an intraday high of +3.34%.
The company remains a barometer for investor sentiment, often seen as the flagship of Greece’s corporate transformation, combining growth, strong earnings, and high visibility.
Industrials, Energy, and Banks Power the Rebound
Viohalco surged +4.65% to €8.10, staging a full recovery from last week’s 6.26% drop. Piraeus Bank, Alpha Bank, Titan, and ElvalHalcor all gained over 2%, while National Bank, Jumbo, Aktor, Eurobank, and Cyprus Airport added more than 1%.
On the downside, Sarantis (-2.39%) and OTE (-2.21%) fell amid mild profit-taking.
Mid Cap: AVAX and Quest in Focus
In the Mid Cap index, AVAX outperformed with +5.92% to €2.4150, rebounding strongly after last week’s 8.2% decline. Quest Holdings climbed +2.59%, while Profile (+1.83%), Ideal Holdings (+1.72%), Intracom, ADMIE, Kri Kri, and Dimand also contributed to the positive tone.
Conversely, Intralot continued to disappoint, losing 14.65% in October and 1%+ today, while Ellaktor, Noval Property, and Hellenic Exchanges (EXAE) also slipped.
Broader Market: Three Gainers for Every Loser
Across the broader market, 94 stocks advanced, compared with 33 decliners.Strong performances came from EKTΕR, Doppler, Attikes Ekdoseis, Viokarpet, Dromeas, Logismos, Foodlink, and Evrofarm, indicating that the recovery is gradually spreading to smaller-cap names.
Market View: A Selective, Technical Rebound
While today’s rally was encouraging, analysts emphasize that it remains a technical correction rather than the start of a new bullish leg. The recovery above 2,000 points is psychologically significant, but sustained momentum will depend on liquidity flows, earnings reports, and international macro signals, particularly from bond yields and global risk appetite.
The Athens Exchange shows signs of renewed vitality and selective confidence, but maintaining levels above 2,000 points will require consistency and support from the banking sector. Analysts describe the current phase as a “relief rally”, not yet a full-fledged trend reversal.
The Athens market feels more like a stage of shifting roles than a recovery play — buyers have returned, but the director (global sentiment) still decides the script.
Source: pagenews.gr