¢ Market Comment
Despite early weakness and sustained pressure on bank stocks AthEx ultimately managed to close Wednesday’s session with its benchmark unchanged. As the day progressed, buying interest gradually shifted toward non-banking large caps, helping offset earlier losses. Meanwhile, the rest of the market continued to be overlooked by investors and as a result, declining stocks still outnumbered advancers. Notably, the overall tone at the Athens Exchange has weakened in recent sessions, a trend confirmed by the daily advancers-to-decliners ratio. Market rebounds are being driven by a narrow group of heavyweight index constituents, while corrective phases are increasingly broad-based, drawing in a growing number of stocks.
General index closed at 2,345.71 points, adding just 0.02% to Tuesday’s 2,345.34 points. The large-cap FTSE-25 index contracted 0.12%, ending at 5,984.49 points, though mid-caps expanded 0.38%. The banks index conceded 1.39%, with Alpha dropping 3.69%, Eurobank giving up 1.79%, Piraeus falling 1.48% Optima easing 0.52% and National sliding 0.36%. Only Bank of Cyprus advanced, 0.41%. In total 46 stocks obtained gains, 63 showed losses and 15 remained unchanged. Turnover amounted to €322.5 million, up from Tuesday’s €274.9mn.
Domestic market on hold digesting levels and fresh corporate news-flow. Selective interest to balance the market.
¢ In the Spotlight
Greece/PDMA: The yield on Greece’s 10-year government bond eased to 3.34% on Wednesday, down from 3.375%, following a successful reopening of the issue by the PDMA, which raised €300mn after attracting €785mn in total bids—an oversubscription of 2.62 times.
Aktor: AKTOR Group and SUEZ International signed a Memorandum of Understanding establishing an exclusive, time limited strategic partnership in water management services, subject to regulatory approvals. The agreement leverages SUEZ’s global expertise across the full water cycle and AKTOR’s strong presence in constructing water infrastructure projects in Greece. Both companies aim to jointly deliver high quality, sustainability focused solutions in drinking water supply, wastewater treatment, and circular economy applications, addressing the growing global need for resilient water resource management.
ΟPAP/Allwyn: The company will tap bond markets regarding the issue of a €500mn to finance payment of exit right of €456mn.
ThPA: The company appointed new CFO namely Mr N. Georgiades.
Autohellas (financial calendar): FY:25 results will be published on March 18. AGM on April 22. Ex-dividend date April 24. Dividend record date April 27. Dividend payment April 29.
Alpha Trust Andromeda: NAV as of February 10 stood at €10.52/share against a closing ASE €9.04/share. Discount over NAV at 14.06%.
Trek Development: TREK Development newly listed on ATHEX’s Alternative Market, announced it has secured a Framework Agreement project with the European Investment Bank (EIB) to provide specialized services supporting key national and regional EIB initiatives in Greece and Cyprus. The agreement covers four strategic pillars—Just Transition, Climate Resilient Cities, the PASSA advisory program with the Greek Ministry of National Economy and Finance, and large-scale infrastructure development. The framework runs for 48 months (with a 12 month extension option), and TREK expects to undertake executive contracts of up to €4.5mn, with assignments activated according to EIB operational needs.
Metlen: Metlen will support the inclusion of Acciaieria Arvedi in the Italian Energy Release 2.0. The agreement concerns the supply of approximately 2.4 TWh of energy to Acciaieria Arvedi, ensuring stable and competitive pricing. Under the Energy Release 2.0 mechanism, Metlen will develop and commission approximately 170 MW of new installed photovoltaic capacity in Italy over the next three years. The projects will benefit from a fixed remuneration of €65/MWh, guaranteed by the GSE, through the so-called “Italian model”.
CCHBC: According to press reports the Administrative Court of Appeals accepted Coca-Cola HBC’s appeal, annulling a Decision of the Hellenic Competition Commission, which had imposed a fine of €10.3 million on the Company. With its ruling, the Court remands the case to the Competition Commission for re-examination
¢ Buybacks
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