In a series profit lies the Athens Stock Exchangefor the seventh consecutive month, a phenomenon recorded for the last time in January – July 2019, when it had seven consecutive months of positive returns and cumulative profits of 46.7%.
From November 2024 until Thursday’s meeting (29.5.2025) on the Athens Stock Exchange, the market records 34.46%. The banking index in the seven months of November 2024-May 2025 over-profit 64.21%, the high capitalization index earns 39.92%and the middle capitalization index rose 20.42%. The total capitalization at the same time increased sharply by 20.42 billion euros.
The Stock Exchange continues its upward trend in 2025, with the basic stock market index at levels in May 2010, the bank index has returned in November 2015, the high capitalization index in August 2011 and mid -capitalization in October 2010.
In the last four positive years, the Greek Stock Exchange was on the top-5 of the world markets, while for 2025 it is in second place in the world after the Warsaw Stock Exchange.
Regarding the capitalization of the stock market, it has increased by 19% since the beginning of 2025, having returned to levels in September 2008, that is, it is at a pre -financial crisis.
At the same time, trading activity is at the highest levels since 2010 with the average daily transaction value in 2025 at 190 million. Euro from 140 million, 2024, increased by 35%.
The presence of foreign investors in the Greek market continues to be strong, with its participation in capitalization being 68.1% and in the business of 61.5%, while 2025 is buyers but inputs of EUR 387 million and € 1,384 billion in the three years 2022-2025.
In 2025 there is also an increase in financial distributions by listed companies. Until now 2025 the listed people have distributed € 1.8 billion, and the distribution has been announced another 2.8 billion, raising the total amount to 4.6 euros, up 9% compared to 2024.
Market upward traffic finds supports:
- In the fact that the Greek stock market, despite the rise, remains attractive if one gives the market capitalization relationship in relation to the gross domestic product (GDP) of Greece. Based on GDP estimate at € 240 billion in 2025, capitalization of the stock market, which amounts to € 125 billion, corresponds to a little higher than 50% of GDP.
- In a recent analysis, JP Morgan points out that the ratio of medium yields and low risk justifies the Overweight setting up for the Greek Stock Exchange. Positive data also highlights the refunds from banks (with 10% dividend yields and equity reproductions) and 2% growth. In addition, banks have a 20% discount based on P/E, against European banks.
- In the strong development story of the Greek economy. The Greek economy has at least for the coming years a “free corridor” of growth in fiscal stability under the condition that there will be no serious escalation in the Middle East or other unpredictable negative developments in the troubled geopolitical environment. The Greek economy will also be in 2025, one of the first in development in the EU. The direction of funds by the US and not only observed to Europe is favored by ATHEX as it has higher growth than the eurozone average.
- In fiscal stability. The course of the budgetary figures is on track of over -performance supporting the scenario of a positive revision of the prospects of the Greek economy.
- The dynamics created by the recovery of the investment level and especially in the bond market. Greek bonds are highly resistant, which is a worldwide “sale” in bond markets.
- The high profitability of listed companies supports shares’ valuations. The image of the profitability of the domestic listed people brought back the performance of the companies and their potential value based on the up -to -date fundamental. The first writing sample of companies that have published first quarter 2025 is satisfactory compared to converging market estimates, however, shows that 2025 will be a year of profitability stabilization
The odds in November 7th of 2024- May 2025
Of the high capitalization shares, the highest profits, in the period November 2024-May 2025, record shares: Alpha Bank (+113.77%), Piraeus (+76.56%), PPA (+63.83%), Optima Bank (+53.75%), Ethnic (+45.50%), Coca Cola HBC (+43.95%), Mytileneos (+40.67%) and Elvalhalcor (+36.21%). Smaller profits are: Aegean Airlines (+28.25%), AIA (+27.26%), Sarantis (+26.50%), OPAP (+25.83%), Titan (+23.63%), Motor Oil (+19.55%), Jumbo (+19.27%), OTE (+14.63%), Viohalco (+12.82%), GEK TERNA (+12.66%), Lamda Development (+12.57%), PPC (+12.37%), ELPE (+8.70%), Aktor (+8.57%) and EYDAP (+1.21%). On the contrary, Greece’s share (-25.28%) declines.
Source: RES – EIA