The Athens Stock Exchange reached a 17-year high on Wednesday, August 26, 2026, as the General Index rose by 33.51 points, or 1.26 percent, to close at 2,687.04 points. Buyers held control of the market for a second consecutive day, driving the benchmark index close to its intraday high of 2,692.94 points.
Following a sluggish start to the trading session, the index accelerated to move within striking distance of the 2,700-point threshold for the first time since November 2009. The session's intraday low was recorded at 2,647.39 points. The nearest comparable closing levels occurred on November 9, 2009, when the index reached 2,688.49 points, and on November 6, 2009, when it stood at 2,701.42 points.
With three trading sessions remaining in August 2026, the General Index has gained 4.56 percent over the course of the month. The total year-to-date performance for the exchange stands at a rise of 26.7 percent.
The Athens Stock Exchange, located in the Greek capital, serves as the primary equities market in Greece. The General Index tracks the price performance of major companies listed on the exchange, reflecting overall investor sentiment and domestic economic activity.
Banking stocks drive multi-year rally
Greek banking shares continued to outperform the broader market on Wednesday, extending their highest levels in 11 years despite displaying signs of fatigue during the first half of the trading day.
Eurobank shares moved above 4.6 euros, reaching price levels last seen in August 2015. National Bank of Greece approached 17 euros, closing at a price level recorded in November 2015. Piraeus Bank touched 10.4 euros, marking its highest price point since March 2021.
Commercial banks represent a significant portion of the total market capitalization on the Athens exchange. Eurobank, National Bank of Greece, and Piraeus Bank are among the largest financial institutions in the country, providing commercial, retail, and investment banking services across Greece and southeastern Europe.
In addition to financial institutions, several major blue-chip equities posted strong gains during the session, led by Public Power Corporation, Titan Cement, and Aegean Airlines. Public Power Corporation is Greece's primary electric utility provider, while Titan Cement operates as an international building materials producer. Aegean Airlines serves as the flag carrier and largest airline in Greece by passenger numbers.
Water and utility shares touch new peaks
Mid-cap stocks also experienced increased trading activity, with Independent Power Transmission Operator ADMIE picking up momentum during the session.
Athens Water Supply and Sewerage Company, known as EYDAP, rallied to close at a new 18-year high. The stock reached levels last recorded in January 2008 as it traded toward the 13-euro mark. EYDAP is the largest water supply and sewerage services provider in Greece, serving the greater Athens metropolitan area.
Market interest across both banking and large-cap stocks was further supported by the upcoming rebalancing of the Morgan Stanley Capital International index, which is set to take effect on September 1. Index rebalancings by global financial equity provider MSCI frequently lead to adjustments in portfolio allocations by international institutional investors.
International market trends and energy factors
The gains on the Athens exchange coincided with a broader recovery in international financial markets, which received momentum from the technology sector. Global investors maintained a wait-and-see approach ahead of the financial results from technology corporation Nvidia, scheduled for publication on Wednesday evening following the close of trade on Wall Street.
Market participants view Nvidia's financial report as a critical signal for the future trajectory and commercial prospects of the global artificial intelligence sector. Wall Street refers to the primary stock exchanges operating in New York City, which heavily influence international market sentiment.
Sentiment in global equities was also buoyed by a decline in international crude oil prices. The drop in oil prices was triggered by bilateral diplomatic discussions between Iran and Oman aimed at opening a maritime corridor through the Strait of Hormuz. A de-escalation in government bond yields provided additional support to equity markets.
The Strait of Hormuz is a vital sea passage located between the Persian Gulf and the Gulf of Oman, serving as a primary transit route for global petroleum shipments.
Corporate earnings and dividend distributions
On the domestic front, Greek energy group Motor Oil stood at the center of investor attention after publishing financial results for the second quarter and first half of 2026 that exceeded market expectations.
Motor Oil reported adjusted earnings before interest, taxes, depreciation, and amortization of 586 million euros for the second quarter of 2026, representing a 147 percent increase year on year. The result surpassed consensus analyst estimates by 22 percent. The company attributed the performance to strong refining margins created by ongoing disruptions in global crude oil supply flows.
For the first half of 2026, Motor Oil reported adjusted earnings before interest, taxes, depreciation, and amortization of 967 million euros, up 114 percent year on year. The company recorded published net profit after minority rights of 686 million euros, while adjusted net profit after minority rights reached 623 million euros. Motor Oil operates one of the largest oil refining complexes in the Mediterranean region, based in Corinth, Greece.
Market attention is next expected to shift toward lottery and gaming operator Allwyn, which is scheduled to publish its financial results on Thursday morning, August 27, prior to the opening of the Athens exchange.
Separately, shares of ADMIE Holdings will trade ex-dividend on Friday, August 28, removing the entitlement to an interim dividend of 0.02 euros per share. Payment of the interim dividend to eligible shareholders is scheduled for September 4.
