ATHEX rises as Greek banks rebound

The rebound was broad enough to keep the week in positive territory, even if only narrowly: the ATHEX benchmark added 0.17% over the week. Market breadth was constructive, with 56 stocks rising, 45 falling and 23 unchanged, while turnover eased to €395.5 million from €413.8 million on Thursday.

The session added to a year-long pattern of stronger Greek equities, which have been supported by bank earnings momentum, healthy foreign buying and the market’s recent return to developed-market status. Even so, Friday’s price action showed investors remain sensitive to global macro cues, especially in money markets and rates, where sudden shifts can quickly spill into Athens trading.

For investors, the key takeaway is that Greek shares are still drawing support from domestic financials and improving fundamentals, but the rally is not immune to cross-asset volatility. The banks remain the main engine of the index, and their direction will continue to determine whether ATHEX can extend its gains or simply oscillate with global risk appetite.

In Cyprus, the general index also finished higher, rising 0.80% to 316.48 points, reinforcing the regional tone of a late-week recovery across Greek and Cypriot equities.

With Athens having recently traded at 17-year highs, traders will now watch whether bank buying can persist into next week and whether international bond yields and currency volatility keep dictating the pace of the local market.