Greek Market Watch: GGB issue, CPI, Optima Leasing, Alpha Services and Holdings, MOH, Aegean Airlines, Ideal Holdings, Jumbo, Alter Ego Media

Market Comment

ATHEX headed south yesterday for a second consecutive session, in line with the European stock markets. In more detail, the General Index slipped by 0.90% at 1,490.22 units (FTSE Large Cap: -1.17%, FTSE Mid Cap: -0.36%, Banks Index: -1.33%) and the traded value was shaped at EUR 116.7m, down from Friday’s EUR 126.4m. We expect ATHEX to consolidate at current levels today.  

Today’s Headlines

·         Greece to issue a new 10-year Bond

·         Greek CPI up by 2.6% y-o-y in December (ELSTAT)

·         Optima Leasing commenced operations

·         SSM to grant fit & proper to Mr. Holterman by the end of the month-Press

·         Alpha Services and Holdings Share Buyback

·         Motor Oil disposes 31k treasury shares

·         Aegean Airlines increases its flight schedule for Cyprus

·         Ideal Holdings EGM on 03 February to approve capital return

·         Jumbo Share buyback

·         Ascertainment of listing requirements of ALTER EGO MEDIA S.A. 

Macro Headlines 

Greece to issue a new 10-year Bond

Greece announced yesterday its intention to proceed with the issuance of a new 10-year Bond, maturing on 15 June 2035. 

Greek CPI up by 2.6% y-o-y in December (ELSTAT)

According to ELSTAT, CPI (national index) increased by +2.6% y-o-y (vs. 2.4% in November) and increased by 0.1% m-o-m in December 2024, while the annual average rate of CPI increased by +2.7% over the trailing 12 months. The sectors with the most notable y-o-y movements were clothing and footwear (+6.2%) and Hotel – Cafes – Restaurants (+5.9%). Additionally, the harmonized CPI in December 2024 rose by 2.9% y-o-y (vs. 3.0% in November), in line with 2.9% flash estimate released earlier this month and increased by 0.1% m-o-m. 

Company Headlines 

Optima Leasing commenced operations

Optima Bank announced the launch of Optima Leasing, a 100% subsidiary that offers specialized real estate, movable assets and equipment leasing solutions for businesses. 

SSM to grant fit & proper to Mr. Holterman by the end of the month-Press

Press reports (euro2day) indicate that SSM will grant by the end of the month the fit & proper to Mr. Holterman, so that Reggeborgh Invest to increase its stake above 10.0% from 9.9% in Alpha Services and Holdings. 

Alpha Services and Holdings Share Buyback

Alpha announced that during the period 7.1.2025 – 10.1.2025 it purchased 1,628,931 own shares, with an average price of EUR 1.7126/share and a total cost of EUR 2,789,649.09. Following the above purchases, Alpha holds 37,277,758 own shares, representing 1.58% of shares o/s. Recall that the AGM approved a share buyback programme of up to 3.0% of the paid in share capital or up to 70,000,000 own shares. 

Motor Oil disposes 31k treasury shares

Motor Oil announced the disposal of 31,000 own shares at EUR 21.18/share on 10 January. As a reminder, Motor Oil has already announced its intention to proceed with the sale of 250k treasury shares (acquired at an average price of EUR 13.52/share) at a minimum sale price of EUR 20.00/share between January 8th-31st. 

Aegean Airlines increases its flight schedule for Cyprus

According to Kathimerini, Aegean Airlines strengthening its activity to and from its base at Larnaca Airport. The company is adding new routes with one more new aircraft A321 neo (3 aircraft in total). For this year Aegean will increase its capacity by 9% while the number of available seats will exceed 1 million for the first time. 

Ideal Holdings EGM on 03 February to approve capital return

The company has called for an EGM on Monday 03 February 2025 at 10:00 Athens/08:00 London Time. Shareholders will approve the reduction of the share capital through a decrease in the nominal value of the shares and the return of the reduced capital amount to the shareholders in cash. Reportedly (euro2day), management will propose the distribution of a capital return of EUR 0.10/share, implying a yield of 1.7%. The stock is set to trade ex-capital on Monday 24 March 2025.  

Jumbo Share buyback

The company announced that it purchased on 10 January, 33,000 own shares at an average price of EUR 25.683. The company now holds 1,136,475 shares or 0.84% of the total share capital. 

Ascertainment of listing requirements of ALTER EGO MEDIA S.A.

The listing and operations committee of ATHEX, ascertained that all listing requirements for ALTER EGO MEDIA are met. 

Calendar of Events

Macros

14/01/25 | Import Price Index in Industry NOV (ELSTAT)

16/01/25 | Evolution of Turnover of Enterprises NOV (ELSTAT)

20/01/25 | Current Account Balance NOV (BoG) & Turnover Index in Industry NOV (ELSTAT)

4Q/FY24 Results Release

20/02/25 | METLEN (Bef-mkt)

24/02/25 | Piraeus Financial Holdings (Aft-mkt)

27/02/25 | HELLENiQ ENERGY (Aft-mkt)

28/02/25 | Alpha Services & Holdings

27/03/25 | Titan Cement International

31/03/25 | Hellenic Exchanges (Aft-mkt)

EGM / AGM

30/01/25 | ELLAKTOR (EGM)

03/02/25 | Ideal Holdings (EGM)

Ex-Dividend

20/01/25 | HELLENiQ ENERGY (interim dividend EUR 0.20/share)

23/01/25 | Thrace Plastics (interim dividend EUR 0.0685848289/share)

Ex-Capital Return

24/03/25 | ELLAKTOR (EUR 0.85/share)

Share Capital Increase – AKTOR Group

10/01/25-21/01/25 | Trading period of rights

10/01/25-24/01/25 | Exercise period of rights & Subscription period

Initiation of trading of new shares

14/01/25 | ILYDA (bonus shares)

04/02/25 | AKTOR Group (shares from SCI)

Market Comment

ATHEX headed south yesterday for a second consecutive session, in line with the European stock markets. In more detail, the General Index slipped by 0.90% at 1,490.22 units (FTSE Large Cap: -1.17%, FTSE Mid Cap: -0.36%, Banks Index: -1.33%) and the traded value was shaped at EUR 116.7m, down from Friday’s EUR 126.4m. We expect ATHEX to consolidate at current levels today.  

Today’s Headlines

·         Greece to issue a new 10-year Bond

·         Greek CPI up by 2.6% y-o-y in December (ELSTAT)

·         Optima Leasing commenced operations

·         SSM to grant fit & proper to Mr. Holterman by the end of the month-Press

·         Alpha Services and Holdings Share Buyback

·         Motor Oil disposes 31k treasury shares

·         Aegean Airlines increases its flight schedule for Cyprus

·         Ideal Holdings EGM on 03 February to approve capital return

·         Jumbo Share buyback

·         Ascertainment of listing requirements of ALTER EGO MEDIA S.A. 

Macro Headlines 

Greece to issue a new 10-year Bond

Greece announced yesterday its intention to proceed with the issuance of a new 10-year Bond, maturing on 15 June 2035. 

Greek CPI up by 2.6% y-o-y in December (ELSTAT)

According to ELSTAT, CPI (national index) increased by +2.6% y-o-y (vs. 2.4% in November) and increased by 0.1% m-o-m in December 2024, while the annual average rate of CPI increased by +2.7% over the trailing 12 months. The sectors with the most notable y-o-y movements were clothing and footwear (+6.2%) and Hotel – Cafes – Restaurants (+5.9%). Additionally, the harmonized CPI in December 2024 rose by 2.9% y-o-y (vs. 3.0% in November), in line with 2.9% flash estimate released earlier this month and increased by 0.1% m-o-m. 

Company Headlines 

Optima Leasing commenced operations

Optima Bank announced the launch of Optima Leasing, a 100% subsidiary that offers specialized real estate, movable assets and equipment leasing solutions for businesses. 

SSM to grant fit & proper to Mr. Holterman by the end of the month-Press

Press reports (euro2day) indicate that SSM will grant by the end of the month the fit & proper to Mr. Holterman, so that Reggeborgh Invest to increase its stake above 10.0% from 9.9% in Alpha Services and Holdings. 

Alpha Services and Holdings Share Buyback

Alpha announced that during the period 7.1.2025 – 10.1.2025 it purchased 1,628,931 own shares, with an average price of EUR 1.7126/share and a total cost of EUR 2,789,649.09. Following the above purchases, Alpha holds 37,277,758 own shares, representing 1.58% of shares o/s. Recall that the AGM approved a share buyback programme of up to 3.0% of the paid in share capital or up to 70,000,000 own shares. 

Motor Oil disposes 31k treasury shares

Motor Oil announced the disposal of 31,000 own shares at EUR 21.18/share on 10 January. As a reminder, Motor Oil has already announced its intention to proceed with the sale of 250k treasury shares (acquired at an average price of EUR 13.52/share) at a minimum sale price of EUR 20.00/share between January 8th-31st. 

Aegean Airlines increases its flight schedule for Cyprus

According to Kathimerini, Aegean Airlines strengthening its activity to and from its base at Larnaca Airport. The company is adding new routes with one more new aircraft A321 neo (3 aircraft in total). For this year Aegean will increase its capacity by 9% while the number of available seats will exceed 1 million for the first time. 

Ideal Holdings EGM on 03 February to approve capital return

The company has called for an EGM on Monday 03 February 2025 at 10:00 Athens/08:00 London Time. Shareholders will approve the reduction of the share capital through a decrease in the nominal value of the shares and the return of the reduced capital amount to the shareholders in cash. Reportedly (euro2day), management will propose the distribution of a capital return of EUR 0.10/share, implying a yield of 1.7%. The stock is set to trade ex-capital on Monday 24 March 2025.  

Jumbo Share buyback

The company announced that it purchased on 10 January, 33,000 own shares at an average price of EUR 25.683. The company now holds 1,136,475 shares or 0.84% of the total share capital. 

Ascertainment of listing requirements of ALTER EGO MEDIA S.A.

The listing and operations committee of ATHEX, ascertained that all listing requirements for ALTER EGO MEDIA are met. 

Calendar of Events

Macros

14/01/25 | Import Price Index in Industry NOV (ELSTAT)

16/01/25 | Evolution of Turnover of Enterprises NOV (ELSTAT)

20/01/25 | Current Account Balance NOV (BoG) & Turnover Index in Industry NOV (ELSTAT)

4Q/FY24 Results Release

20/02/25 | METLEN (Bef-mkt)

24/02/25 | Piraeus Financial Holdings (Aft-mkt)

27/02/25 | HELLENiQ ENERGY (Aft-mkt)

28/02/25 | Alpha Services & Holdings

27/03/25 | Titan Cement International

31/03/25 | Hellenic Exchanges (Aft-mkt)

EGM / AGM

30/01/25 | ELLAKTOR (EGM)

03/02/25 | Ideal Holdings (EGM)

Ex-Dividend

20/01/25 | HELLENiQ ENERGY (interim dividend EUR 0.20/share)

23/01/25 | Thrace Plastics (interim dividend EUR 0.0685848289/share)

Ex-Capital Return

24/03/25 | ELLAKTOR (EUR 0.85/share)

Share Capital Increase – AKTOR Group

10/01/25-21/01/25 | Trading period of rights

10/01/25-24/01/25 | Exercise period of rights & Subscription period

Initiation of trading of new shares

14/01/25 | ILYDA (bonus shares)

04/02/25 | AKTOR Group (shares from SCI)

Research Department
Equity Research 

Τ: 210 8173 383 F: 210 3279 287 E: [email protected]

32 Aigialeias & Paradissou str., 15125, Maroussi optimabank.gr

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