The Athens stock exchange closed Thursday with a notable uptick as the Athens General Composite index rose 2.16%, marking its highest level in five years. This rally was largely driven by robust gains in the banking, construction, and travel sectors, contributing to an overall positive market environment.
Among the day’s top performers was Ellaktor SA, whose shares increased by 7.44%, adding 0.10 points to settle at 1.44. Similarly, Aktor Symmetochon Technikon kai Energoiakon Ergon AE saw its stock rise 4.33%, climbing 0.44 points to close at a five-year high of 10.60. Public Power also experienced a surge, with its share price advancing 4.29%, or 0.80 points, to finish at 19.45, likewise reaching a five-year peak.
Despite these gains, some stocks registered declines. Thessaloniki Port Authority SA dropped 1.34%, slipping 0.50 points to 36.70 at the close. Declines were also recorded by Noval Property Real Estate Investment Co and BriQ Properties REIC, falling 1.07% and 0.99% respectively.
Market breadth favored advancing stocks, tallying 101 gainers against 21 decliners, with 12 shares unchanged. This distribution underscores a broadly positive sentiment on the Athens exchange.
In commodities, February delivery gold futures rose 0.60%, gaining $28.81 to $4,866.31 per troy ounce. Conversely, crude oil futures for March delivery decreased by 1.40% to $59.77 a barrel, while Brent crude fell 1.39% to $64.33 a barrel.
Currency trading showed minimal movement, with the euro holding steady against the US dollar and the British pound. EUR/USD remained nearly unchanged at 1.17, and EUR/GBP shifted marginally by 0.01% to 0.87. The US Dollar Index futures declined 0.30%, settling at 98.26.
Overall, strong performances in banking, construction, and energy stocks contributed to a significant uplift in the Greek equity market, indicating investor confidence in these sectors amid mixed commodity market conditions.
The Athens General Composite index advanced 2.16% to close at a five-year high, bolstered by strong performances in the banking, construction, and energy sectors. Notably, shares of Ellaktor SA, Aktor Symmetochon, and Public Power reported significant increases. While most stocks rose, select real estate and port authority shares experienced declines. Commodity markets showed mixed results with gold prices rising and crude oil falling. Currency rates remained stable with minimal changes in EUR/USD and EUR/GBP.
Key Points
- Athens General Composite Index increased 2.16%, closing at a five-year peak.
- Strong sector gains in banking, construction, and energy drove the market upwards.
- Commodity markets presented mixed trends, with gold prices rising and crude oil prices declining.
Risks
- Declines in specific companies such as port authority and property investment firms indicate sectoral vulnerabilities.
- Falling crude oil prices could affect energy sector profitability despite stock gains.
- Stable but stagnant currency pairings may limit export competitiveness and market growth.