The Athens Stock Exchange General Index fell 0.71 points to close at 2,613.73 on Wednesday as investors digested short-term gains near annual highs.
The benchmark index traded within a narrow band of roughly 14 points during the session, touching a daily low of 2,606.50 points and a high of 2,620.41 points. The market remains close to its 2026 peak closing mark of 2,628 points and its intraday high of 2,644 points, levels not surpassed since November 2009.
The index has gained 1.71% in August, bringing its total return for 2026 to 23.25%. The Athens Stock Exchange is the principal stock exchange of Greece, based in the capital city of Athens.
Shares in Greek refining group HELLENiQ ENERGY rose to an intraday high of 14 euros, marking a new 26-year peak for the stock that matches levels last reached in January 2000. Market participants pointed to strong refining margins expected through 2028 as a key factor supporting the equity.
Energy and banking stock movements
The rally in HELLENiQ ENERGY was bolstered by investment bank Goldman Sachs, which issued its third consecutive price target upgrade for the stock, raising it to 15.2 euros from 13.5 euros previously.
Greek banking stocks also posted gains, with Alpha Bank reaching a new 11-year high near 4.7 euros, its highest level since November 2015. Industrial provider Cenergy Holdings recorded a gain of 5% to return above 23 euros per share.
MSCI index review expectations
Market attention focused on global index provider MSCI, which scheduled the publication of its August Index Review for Wednesday night following the close of trading on equity markets in the United States.
Investors anticipated the potential addition of petroleum company Motor Oil to the MSCI Greece Standard Index, with no constituent deletions expected. The MSCI Greece Standard Index currently includes nine Greek equities: National Bank of Greece, Eurobank, Piraeus Bank, Alpha Bank, Public Power Corporation, GEK TERNA, OTE, Jumbo, and Allwyn.
Any changes announced in the review will take effect after trading closes on Monday, August 31, with implementation scheduled for September 1. Inclusion in MSCI standard indices frequently drives capital inflows from funds tracking global benchmarks.
Ex-dividend trading and international markets
In other domestic market activity, shares of shipping firm Safe Bulkers traded on the Euronext Athens parallel market without the right to receive a second-quarter dividend of 0.075 US dollars per share.
International equity markets recorded gains on Wednesday, led by the technology sector on Wall Street. The Nasdaq index advanced as investors responded positively to financial results from artificial intelligence infrastructure companies and domestic economic metrics.
United States inflation and Federal Reserve policy
Data from the United States Department of Labor showed consumer prices in July rose marginally, confirming market forecasts. The headline Consumer Price Index increased by 0.1% month on month, setting annual inflation at 3.4%.
Core CPI, which excludes volatile food and energy prices, rose 0.2% on a monthly basis and 2.5% compared to the prior year. Both annual inflation metrics showed slight declines from June levels, reinforcing analyst expectations that the Federal Reserve will leave benchmark interest rates unchanged at its policy meeting in September.
