Athens Stock Exchange hits 17-year high driven by banking rally

The Athens Stock Exchange has reached a 17-year high, with the General Index closing at 2,738.35 points at the end of September. This performance marks the sixth consecutive month of gains, with a year-to-date return of approximately 29.12%.

The rally has been primarily driven by the banking sector, which reached an 11-year high. Major institutions including Eurobank, Piraeus Bank, Alpha Bank, and National Bank of Greece saw significant gains, with Eurobank approaching the 5-euro mark and Piraeus Bank nearing 11 euros.

Market activity remained robust, with daily turnover exceeding 600 million euros during peak sessions. While the banking sector acted as the primary engine for growth, other sectors such as energy and metals also showed notable movement. The market's upward trajectory coincides with the ongoing process of integrating the Greek market into developed market indices by major providers like STOXX and FTSE Russell.