Athens Stock Exchange faces pressure from oil and bond markets

The Athens Stock Exchange experienced a downturn at the start of September, driven by international market pressures. Rising oil prices, particularly Brent crude approaching $90-$92 per barrel, and geopolitical tensions in the Middle East have fueled inflation concerns and triggered a sell-off in global bond markets.

Despite the downward trend in the General Index, which saw declines ranging from 0.1% to 0.75%, trading volume was significantly bolstered by the MSCI index rebalancing. This rebalancing process added approximately €630-€650 million in transaction value to the market. Motor Oil emerged as a notable performer, reaching a new record of €62 and returning to the MSCI Greece Standard index.

In the banking sector, performance was mixed; while Eurobank saw slight gains, other major institutions like Piraeus Bank and Alpha Bank faced corrections. Additionally, Alpha Bank has requested the delisting of its subsidiary, Alpha Trust Holdings, following its acquisition of 100% control of the company.