Beta Sec – Daily report 02-04-2026 Market Monitor- Market Comment- In the Spotlight- Buybacks

The upgrading of the Greek bourse to the category of developed markets by Morgan Stanley starting in May 2027, with the upcoming MSCI index rebalancing, gave a massive boost to Greek stocks yesterday, with the benchmark covering a significant part its recent losses in the last couple of days. The postponement of the upgrading from September 2026 is considered to give some much-needed time for adjustment, which the market received with relief and satisfaction. 

The Athens Exchange GI closed at 2,130.06 points, adding 3.15% to Tuesday’s 2,065.04 points. The large-cap FTSE-25 index expanded 3.29%, ending at 5,406.09 points. FTSE Mid cap advanced 2.76% to 2,666.67 points. The banks index grew 3.28%, as Piraeus jumped 6.81%, Alpha grabbed 5.71%, Bank of Cyprus earned 3,35%, Eurobank collected 2.46%, Optima improved 2.24% and National rose 0.49%. Allwyn soared 8.48% following new shares listing boosting its market cap to €10.6bn, ElvalHalcor augmented 6.42% and Titan Cement advanced 5.78%. 

In total 100 stocks obtained gains, 15 showed losses and 10 remained unchanged. Turnover amounted to €397.775mn, up from Tuesday’s €337.5mn. 

Ahead of a long weekend due to Catholic Easter holiday, the market is expected to pause for a breath in today’s session with nervousness and volatility continuing on President’s Trump speech yesterday pointing to another 2 to 3 weeks of war operations in the ME area.  

Greece/Fiscal Policy: Overdue tax debts in Greece increased by €1.36bn over the last two months of 2025, according to data from the Independent Authority for Public Revenue (AADE). New unpaid obligations for the full year reached €9.86bn, while the total stock of overdue tax debt rose from €112.5bn in October to €113.86bn in December, reflecting a clear upward trend in taxpayer arrears. 

Greece/Unemployment: Greece’s unemployment rate stood at 8.5% in February 2026, down from 9.2% a year earlier but higher than January’s 7.9%, according to ELSTAT data.

Premia: The company announced the sale of a 24,703 sq.m. logistics asset in Thessaloniki for €17mn, executed through the transfer of 100% of its subsidiary ADAM Logistics to buyer Dedeman Hellas. The property, previously leased to SEAGULL but currently vacant, had a valuation of €15.85mn as of 31 December 2025. Of the proceeds, €9.9mn will be used to repay debt, with the remainder allocated to the company’s investment plan.

Alpha Trust: Net Asset Value (NAV) per share of €9.73 as of 31 March 2026. The corresponding market price stood at €7.86, implying a discount of –19.23% to NAV.

Terna Energy: The company will release their FY2025 annual financial report on Tuesday, 7 April 2026.

CrediaBank: The Bank announced the successful completion of its Combined Offering of 375mn new shares at €0.80 each, attracting total valid demand of 1.42bn shares (€1.14bn), corresponding to 3.8x oversubscription. Of the new shares, 20% were allocated to the Greek Public Offering and 80% to the International Offering.

CC HBC: 937,715 ordinary shares, held as treasury shares, were transferred out of treasury to beneficiaries to cover the vesting of shares under the Coca-Cola HBC’s management incentive deferred share plan. 

Allwyn: Following the new 445,684,184 new shares issued Mr. Komarek’s stake amounts to 75.14% (604,392,847 shares).  

Eurobank: AGM on April 28.   

NBG: AGM on April 30.

Avax: The construction firm reported this morning an improved set of 2025 performance with strong construction EBITDA margin beefing profitability. Backlog of €2.8bn (March 2026) reassures a good 2026 financial performance. Leverage ratio at 1.7x (Net Debt/EBITDA). Fy:25 dividend (gross) €0.10/share (from €0.07/share in 2024). AGM on July 2. Ex-dividend date July 21. Dividend record date July 22. Dividend payment July 27. H1:26 results September 30. 

Conference call details: Thursday April 2 at 4pm local GR Time

• GR: + 30 213 009 6000 or +30 210 9460 800
• UK & INTL: + 44 (0) 203 059 5872
• USA: + 1 516 447 5632
• WEB: https://87399.choruscall.eu/links/avax260402.html

Fourlis (FY:25 results CC highlights): During yesterday’s CC management sounded optimistic regarding FY:26 top line performance and margin improvement based on cost control, favorable product mix and operating efficiencies including the ones steaming from the company’s IT upgrades and new IKEA distribution center in Greece from Q3:26 onwards. They also welcomed new strategic investment in the company by Quest Holdings and mitigated company’s target’s for €750mn sales and 6-8% EBIT margin (5.3% in FY:25) to 2029. Regarding 2026 operating trends they repeated the FY:25 results press release announcement for Q1:26 sales of +13%, IKEA +6% and IS +24%. They also expect positive developments from H&B new collaboration in the pharmacies segment that will accelerate its expansion. They will keep a minority 15% stake in the new project. Management emphasized its continued focus on executing strategic priorities, maintaining cost control and operational flexibility, while selectively investing in growth and transformation initiatives. For 2026, the Group’s CEO, Mr. Vassilakos, stated that the objective is to advance the next phase of Fourlis’ transformation toward a more efficient and scalable retail platform.

Bally’s Intralot (FY:25 results CC highlights): UK revenues in Q1:26 at GBP 147.9mn, +10.5% yoy (vs Q1:25) but flat qoq (vs Q4:25). Negative effect from increased taxation in the UK in online gaming from 21% to 40% will burden results by €95mn which will be offset by cost cutting, synergies and organic development saving €35mn, €15mn and €34mn respectively) leaving EBITDA lagging 2% yoy (lower) to €422mn M&A in the cards as FCF will remain at 2025 levels (€172.7mn).

Fais Group: The Group announced that the merger of its three wholly owned subsidiaries—Unlimited Sport S.A., Zita Mall S.A., and Fer I.K.E.—into Kalogirou A.E. has been formally approved and registered in the General Commercial Registry (GEMI) as of 1 April 2026. The transformation balance sheet date is 30 September 2025.

Evrofarma (financial calendar): FY:25 results on April 17. AGM on July 31. Ex-dividend date August 19. Dividend record date August 20. Dividend payment August 26. H1:26 results September 25.  

Daios Plastics (financial calendar): FY:25 results on April 29 after market close. AGM on June 30. H1:26 results on September 29. No 2025 dividend.  

Performance Technologies (financial calendar): FY:25 results out today after market. AGM on May 13. Ex-dividend date June 2. Dividend record date June 3. Dividend payment June 8. H1:26 results September 15. 

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