Athens Stock Exchange hits 17-year high led by banks

The Athens Stock Exchange has reached new highs, with the General Index closing at 2,726.49 points, marking its best performance since October 2009. This surge follows an eighth consecutive week of gains, driven largely by the banking and energy sectors.

The banking sector has been a primary driver of this growth, with the sectoral index reaching an 11-year high. Major systemic banks, including Alpha Bank, Eurobank, Piraeus Bank, and National Bank of Greece, saw significant increases. Optima Bank also recorded new historical highs.

Additionally, the FTSE 25 index surpassed the 7,000-point threshold for the first time since April 2011. Market analysts attribute this positive momentum to expectations of an upcoming market upgrade and increased trading activity following changes to FTSE Russell and STOXX indices. The energy sector, including companies like Motor Oil and HelleniQ Energy, also contributed to the market's upward trend.