{"id":1375,"date":"2026-04-19T09:04:00","date_gmt":"2026-04-19T06:04:00","guid":{"rendered":"https:\/\/en.tomanifesto.gr\/?p=1375"},"modified":"2026-04-19T09:04:00","modified_gmt":"2026-04-19T06:04:00","slug":"athens-exchange-rebounds-greek-banks-remain-attractive-despite-international-uncertainty","status":"publish","type":"post","link":"https:\/\/en.tomanifesto.gr\/?p=1375","title":{"rendered":"Athens Exchange rebounds – Greek banks remain attractive despite international uncertainty"},"content":{"rendered":"

The Athens Stock Exchange<\/strong> followed the path of the international markets and entered a recovery<\/strong> phase, after the lows recorded at the peak of geopolitical tension. <\/p>\n

At the same time, the S&P 500<\/strong> hit a new all-time high, confirming that markets often leave crises behind before they are over. <\/p>\n

Experience shows that geopolitical shocks<\/strong> cause sharp but brief pressures. On more than 18 occasions since World War II, the S&P 500<\/strong> fell an average of 6.2%, but recovered within about 30 sessions. The same pattern seems to be repeating itself now. <\/p>\n

investors are discounting risk and moving ahead of developments. According to Goldman Sachs<\/strong>, in this environment opportunities<\/b> with controlled risk<\/b> are being created. <\/p>\n

The performance of oil<\/strong> also played an important role. When brent<\/strong> approached $120, the General Index<\/strong> touched its lows. However, on the same day the General Price Index<\/b> made an intra-day low of 2,036<\/b> to close at 2,102<\/b>.<\/b> <\/p>\n

The market reaction<\/h3>\n

From the late March lows, the General Index<\/strong> has risen by 13.36%<\/strong>, with total capitalization<\/strong> up by 22.63 billion. EUR 22.63. <\/p>\n

The bank index<\/strong> rises 20.05%<\/strong>, while the large-cap index gains 13.91%<\/strong>. The mid-cap is also moving higher, with gains of 11.74%<\/strong>. <\/p>\n

Among the high-cap stocks, the biggest reaction from the March 30 lows is recorded by Piraeus (+26.43%), GEK Terna (+26.11%), Alpha Bank (+25.45%), Eurobank (+21.93%), Viohalco (+21.26%), Elvalhalcor (+18.99%), Aktor (+17.65%), Aegean Airlines (+15.22%), Ethniki (+14.96%), Cyprus (+14.03%), Sarantis (+11.94%), Metlen (+11.62%), Optima Bank (+10.34%) and OTE (+10.30%). They are followed by PPC (+8.81%), Titan (+8.55%), Jumbo (+7.83%), Lamda Development (+7.48%), PPA (+5,52%), Coca Cola HBC (+4.53%), AIA (+4.12%), Allwyn (+3.80%), EYDAP (+3.77%), HELPE (+0.98%) and Motor Oil (+0.85%). <\/p>\n

Shares returning to pre-war levels
<\/h3>\n

Compared to the start of the war, as of the February 27 session, based on Thursday’s (4\/16) close (2,274.98 points), the General Index is down marginally 0.12%, the banking index is up 2.08%, while total capitalisation is \u20ac5.57 billion higher. The main stock index is down 5.5% from the year highs of 2,407.07 points recorded in the February 4, 2026 session. <\/p>\n

Since the start of the war, among the high-cap indices, EYDAP (+19.52%), GEK TERNA (+13.80%), HELPE (+10.61%) have risen, Sarantis (+6.28%), Ethniki (+5.91%), Aktor (+4.36%), Piraeus (+3.23%), Motor Oil (+3.05%), Metlen (+1.96%), PPA (+1.33%), PPC (+1.27%), OTE (+1.04%), Cyprus (+0.49%) and Alpha Bank (+0.16%).<\/p>\n

On the other hand, shares of Allwyn (-12.63%), Elvalhalcor (-11.48%), Viohalco (-9.63%), Lamda Development (-9.59%) are down, Titan (-9.33%), Coca Cola HBC (-6.79%), Optima Bank (-6.13%), AIA (-4.98%), Jumbo (-4.59%), Aegean Airlines (-3.43%) and Eurobank (-0.31%). <\/p>\n

The banking sector continues to attract interest<\/h3>\n

Despite the volatility, foreign agencies maintain a positive stance on Greek banks. <\/p>\n

UBS<\/strong> and HSBC<\/strong> see upside, believing valuations remain attractive. In the same vein, Deutsche Bank<\/strong> is raising its target prices. <\/p>\n

Greek banks are trading at around 6.5 times 2027 earnings<\/strong>, when European banks are close to 8 times. <\/p>\n

According to Goldman Sachs<\/strong>, the domestic environment is supporting the industry. And credit demand<\/strong> remains strong, while portfolio quality is showing strength. At the same time, Greece has less exposure to energy pressures than other eurozone countries. <\/p>\n","protected":false},"excerpt":{"rendered":"

\n The Athens Stock Exchange followed the course of the international markets and entered a recovery phase, after the lows recorded at the peak of the …<\/p>\n","protected":false},"author":1,"featured_media":1376,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[],"class_list":["post-1375","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy"],"acf":[],"_links":{"self":[{"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=\/wp\/v2\/posts\/1375","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1375"}],"version-history":[{"count":0,"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=\/wp\/v2\/posts\/1375\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=\/wp\/v2\/media\/1376"}],"wp:attachment":[{"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1375"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1375"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1375"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}