ATHEX headed south yesterday for a 2nd session in a row, in line with the European stock markets. In more detail, the General Index dropped by 0.48% at 1,868.02 units (FTSE Large Cap: -0.51, FTSE Mid Cap: +0.36%, Banks Index: -0.32%) and the traded value was shaped at EUR 215.4m, up from Friday’s EUR 164.5m. We expect the market to move in line with the international markets today.
· Government unveils EUR 8bn EU-funded program for energy, housing and transport projects (press)
· PPI in industry up in May (ELSTAT)
· Retail sales up in April (ELSTAT)
· Banking System Loans | May 2025
· Banking System Deposits | May 2025
· Ministry of Finance solution on Swiss Franc loans-Press
· New direct route from China to Greece
· Eurobank issued new senior preferred bond of EUR 500m
· HELLENiQ ENERGY to trade ex-dividend tomorrow
· Profile trades ex-dividend today
· Real Consulting to trade ex-dividend on 19 August
· Alter Ego Media dividend reinvestment price set at EUR 4.20 per share.
Government unveils EUR 8bn EU-funded program for energy, housing and transport projects (press)
According to Kathimerini, the government has announced the launch of ambitious programs, funded by the European Union to the tune of EUR 8bn, to tackle a range of challenges, from energy costs and housing shortages to environmental protection, transport upgrades and assisting vulnerable households and micro-enterprises. The funding will be drawn from the Social Climate Fund, the Modernization Fund and the newly established Island Resilience Fund. The plan includes the electrical interconnection of the Dodecanese, North Aegean and Cyclades, which is expected to reduce the cost of public utility services for consumers. Additional measures include subsidizing energy upgrades to residential and commercial buildings, and boosting private sector participation in energy efficiency investments.
PPI in industry up in May (ELSTAT)
According to ELSTAT, Producer Price Index in Industry (PPI) increased by 2.0% y-o-y in May 2025, driven by an increase in Durable Consumer Goods (+4.1% y-o-y), while also higher producer prices were gauged in Energy (+3.5% y-o-y). In the June 2024- May 2025 period, Producer Price Index in Industry (PPI) decreased by 0.6% in comparison with the corresponding index for the period from June 2024 to May 2025.
Retail sales up in April (ELSTAT)
According to the Hellenic Statistical Authority, retail sales (excluding automotive fuel) increased by 10.4% y-o-y in April 2025 (also increased by 9.1% y-o-y in volume terms), while including automotive fuel, retail sales increased by 7.6% y-o-y. Per main store category, the turnover of the Food sector increased by 13.9% y-o-y, with sales volume also up by (12.9% y-o-y), while Non-food sector (except automotive fuel) sales increased by 7.3% y-o-y with sales volume also up by 7.0% y-o-y. Finally, the turnover of the Automotive fuel sector decreased by 6.3% y-o-y, with sales volume up by 4.7% y-o-y.
Sector Headlines
Facts: According to BoG, total credit to the economy (incl. the general government) came in at EUR ca200.6bn in May 2025 (+6.9% y-o-y, monthly net flow of EUR 298m), on the back of positive monthly net flow by EUR 518m of the private sector, whilst General Government recorded a negative monthly net flow of EUR 220m. Loans to the private sector reached EUR 124.4bn (+11.3% y-o-y monthly net flow of EUR 518m), driven by corporate loans that came in at EUR 85.7bn (+17.5% y-o-y, monthly net flow of EUR 471m). Loans to sole proprietors stood at EUR ca3.9bn (-0.3% y-o-y, negative monthly net flow of EUR 6m). Moreover, household lending was shaped at EUR 34.8bn (-0.1% y-o-y, monthly net flow of EUR 53m). Housing loans came in at EUR 26.0bn (-1.9% y-o-y, monthly net flow of EUR 26m). Consumer credit reached EUR ca8.6bn (+5.7% y-o-y, monthly net flow of EUR 27m). Corporate loans accounted for 68.9% of private sector loans, household loans for 28.0% and loans to sole proprietors for 3.2% respectively.
Facts: BoG announced that system deposits came in at EUR 207.5bn (+5.0% y-o-y, monthly net flow of EUR 1,525m) in May 2025. General Government deposits reached EUR ca7.9bn (+15.2% y-o-y, monthly net flow of EUR 302m) and private sector deposits amounted to EUR 199.6bn (+4.7% y-o-y, monthly net flow of EUR 1,222m). Corporate deposits came in at EUR 50.6bn (+9.8% y-o-y, monthly net flow of EUR 867m) and household deposits reached EUR 149.0bn (+3.0% y-o-y, monthly net flow of EUR 356m). Household deposits accounted for 74.7% of private sector deposits and corporate for the remaining 25.3%. The monthly increase in private sector deposits in April is attributed primarily to corporate deposits. Time deposits recorded a monthly net flow of just EUR 6m to ca35.5bn and accounted for 17.1% of system depos vs. 17.2% in April. Liquidity remains ample, with the LDR at 62.3% vs. 62.8% in April and the commercial surplus widened to EUR 75.2bn from 73.8bn in April.
Ministry of Finance solution on Swiss Franc loans-Press
Press reports (euro2day) indicate that the MoF solution will encompass the conversion of loans to EUR and a haircut between 10% and 25%, depending on income criteria. The same reports suggest that CHF loans stand at EUR 4.5bn-5.0bn. Recall that Eurobank loans in CHF shaped at EUR 1.69bn in 2024, Piraeus at EUR 531m and NBG at EUR 183.0m, whilst Alpha had no exposure.
New direct route from China to Greece
According to Kathimerini, Sichuan Airlines has launched a new direct route connecting Athens to Chengdu, China via Istanbul, marking a key step in strengthening air connectivity between Greece and China and marking the resurgence of Chinese outbound travel following extended restrictions.
Company Headlines
Eurobank issued new senior preferred bond of EUR 500m
Reportedly (Bloomberg), Eurobank issued a new senior preferred bond of EUR 500m at a yield of 2.9%, maturity of three years and callable at two. The same reports suggest that demand exceeded EUR 4.5bn.
HELLENiQ ENERGY to trade ex-dividend tomorrow
HELLENiQ ENERGY will trade ex-dividend of EUR 0.55/share tomorrow (DY: 6.7%).
Profile trades ex-dividend today
The stock is trading ex-dividend today (EUR 0.0647/share, DY: 0.9%) and payment will commence on Tuesday 08 July.
Real Consulting to trade ex-dividend on 19 August
The stock is scheduled to trade ex-dividend on Tuesday 19 August (DPS: EUR 0.05, DY: 1.0%) and payment will commence on Tuesday 26 August.
Alter Ego Media dividend reinvestment price set at EUR 4.20 per share.
The company announced the price of its new shares issued under the dividend reinvestment programme. In line with the BoD resolution, the offer price was set at EUR 4.20 per share reflecting a 3% discount to the volume-weighted average price (VWAP) of the company’s stock over the first three trading days of the reinvestment period (25–27 June), rounded up to the nearest second decimal.
01/07/25 | S&P Global Greece Manufacturing PMI JUN
02/07/25 | Unemployment Rate ΜΑΥ (ELSTAT)
08/07/25 | Trade Balance MAY (ELSTAT)
09/07/25 | CPI & Harmonized CPI JUN (ELSTAT)
10/07/25 | Industrial Production Index MAY (ELSTAT)
EGM / AGM
01/07/25 | KRI-KRI (AGM), Technical Olympic (AGM), Galaxy Cosmos Mezz Plc (rep. AGM)
02/07/25 | ADMIE Holding (AGM)
03/07/25 | Elinoil (AGM), Lavipharm (AGM)
07/07/25 | Alumil (AGM)
08/07/25 | Piraeus Port Authority (AGM)
09/07/25 | Jumbo (AGM), AKTOR Group (AGM)
10/07/25 | Ellaktor (AGM), Attica Bank (AGM), Mathios (AGM)
11/07/25 | Quality & Reliability (AGM)
15/07/25 | AVAX (AGM)
16/07/25 | EYDAP (AGM), Creta Plastics (AGM), Centric (AGM)
18/07/25 | ILYDA (AGM)
22/07/25 | Piraeus Port Authority (AGM)
27/08/25 | Evropi Holdings (AGM), Attica Publication (AGM)
28/08/25 | Intralot (AGM)
29/08/25 | Intracom Holdings (AGM)
08/09/25 | Orilina Properties (AGM)
09/09/25 | Frigoglass (AGM), Ble Kedros (AGM)
Ex-FY24 Dividend per share
01/07/25 | Profile Systems (EUR 0.064728), Thessaloniki Water Supply (EUR 0.055), AUSTRIACARD Holdings (EUR 0.11), Flexopack (EUR 0.165)
02/07/25 | HELLENiQ ENERGY (remaining EUR 0.55), Interlife (EUR 0.2009865686)
03/07/25 | OTE (EUR 0.7216)
07/07/25 | Euroconsultants (EUR 0.04), Medicon (EUR 0.13)
10/07/25 | AS Company (EUR 0.1713121688)
11/07/25 | Petropoulos (EUR 0.30)
14/07/25 | EKTER
21/07/25 | PPC (EUR 0.40), Jumbo (EUR 0.5063), Space Hellas (EUR 0.15)
22/07/25 | EYDAP (EUR 0.07)
28/07/25 | Vogiatzoglou (EUR 0.07)
04/08/25 | Piraeus Port Authority (EUR 1.92)
19/08/25 | Real Consulting (EUR 0.05), Evrofarma (EUR 0.05)
21/08/25 | KRI-KRI (EUR 0.40)
25/08/25 | ADMIE Holding, Creta Plastics
02/09/25 | AVAX (EUR 0.07)
11/09/25 | Orilina Properties
20/10/25 | Moda Bagno
03/11/25 | Ble Kedros
Ex-Capital Return
25/08/25 | Biokarpet (EUR 0.02/share)
Corporate Bond Issuance
30/06/25-02/07/25 | Aegean Airlines – Public Offering period
07/07/25 | Aegean Airlines – Start of trading of new bonds
METLEN – Voluntary Share Exchange Tender Offer
27/06/25-25/07/25 | Acceptance Period of the Tender Offer
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