Investors have turned their attention to the Greek stock market, contributing to its sixth consecutive rise and bringing it closer to a yearly high of 1,879.23 points. Following this, the market closed at 1,936.43 points, reminiscent of the level on April 21, 2010. Initially dominated by sellers until 3:00 PM, the market dynamics shifted significantly afterward, with leading stocks gaining momentum over profit-taking activities.
During the session on Wednesday (June 11), the General Index rose by 11.51 points, or +0.62%, closing at 1,867.24 points, just shy of the day’s peak of 1,867.43 points. The lowest point of the day was recorded at 1,848.58 points. Over the past six days, the General Index has seen a cumulative increase of +2.48% and is now only -0.64% away from its one-year (and 15-year) peak. It has also appreciated by +1.97% in June and +27.05% since the start of 2025.
Banking stocks exhibited a sluggish performance, with Ethniki nearing its 10-year record (since November 2015) and edging closer to the €11 mark. Among blue-chip stocks, the increase of GEK TERNA, nearing €20 for the first time in 25 years (since February 2000), stands out, following optimistic profit forecasts from CEO Mr. George Peristeri during the company’s shareholder meeting. Hellaktor experienced a notable surge of nearly +7%, while both PPA and PPA ports continued to reach new heights, expanding on their historical records established in June 2008.
A significant volume of transactions was recorded on the XA board today, bolstering overall turnover. Five pre-arranged transactions occurred in Piraeus Bank, amounting to €15.97 million, involving 2.88 million shares changing hands at prices between €5.51 and €5.62. Additionally, around 400,000 shares were transferred to ETE for €10.85 and €10.855 per share, totaling €4.33 million. An additional 1.064 million shares were sold to Intracom Holdings for €3.3 million (€3.1 per share).
Launch of Ideal’s AMC
This morning at 10 AM, Ideal Holdings commenced a share capital increase process amounting to €48.8 million. The IPO involves issuing 8 million new shares, with an offering price range between €5.8 and €6.1. The public offer is open until 3 PM on Friday, June 13. Of the new shares, 2.4 million will be allocated to existing shareholders, while 5.6 million are available to new investors. Trading for the new shares on the CSE will begin on Wednesday, June 18.
New investors participating in the public offering will also qualify for a capital return of €0.3 per share, scheduled for distribution on August 1. When accounting for this capital return, shareholders can expect a total reward of €0.98 per share, equating to €45 million overall.
The general meeting of GEK TERNA’s shareholders convened today following the completion of a sale where 10% of Attiki Odos was sold to the Latsco Group for €77.2 million. Additionally, Sarantis is holding an extraordinary general meeting today to approve the cancellation of 3.15 million treasury shares, representing 4.7% of the group’s current share capital. Tomorrow, Motodynamics will conduct its AGM, anticipated to approve a gross dividend of €0.13 per share for the 2024 financial year.
Minor gains on Wall Street – Mixed signals in Europe
On Wall Street, investors factored in a trade agreement between the US and China, pushing the S&P 500 to record gains for the third consecutive day. Consequently, the broader US market index is now less than 2% off its all-time high. Despite a downward trend in futures, today’s session began with a slight increase, buoyed by better-than-expected US inflation data.
European markets displayed mixed results as they absorbed recent gains, with traders eager for further details regarding the US-China deal. The pan-European Stoxx 600 index dipped -0.05% to settle at 552 points. The FTSE 100 in London rose by +0.3%, whereas the DAX in Frankfurt fell by -0.1%. The IBEX 35 in Madrid was lower by -0.7%. In Asia, markets closed positively, encouraged by the preliminary agreement between the US and China, with the US easing some tariffs and China addressing restrictions on rare earths.
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