Ethniki

 The Greek stock market struggled to withstand international pressure, concluding the first session of October with a downward trend. The domestic market exhibited sluggish movement, with stabilization trends dominating as investors awaited the completion of the National Bank’s placement.

The Greek stock market had its best session in a “deep” month today (23/9). After a sluggish start, buyers turned active with banks spearheading the rally, which gained more than +2%. In this way, the X.A. broke out of the “bottleneck” of 1,420-1,430 points, in which it had been “trapped”.

The Greek stock market made a strong start to September, recording its third consecutive rise. The General Index closed at the highs of the day, with “heavyweights” on its side, which fell significantly in August, creating the right conditions for buyers to re-enter.

The General Index of the Athens Stock Exchange opened with small losses, which is a breath away from the 1,400-point target, while Motor Oil’s shares are in the spotlight today, following MSCI’s surprise decision to leave it out of the MSCI Standard Greece index.

On Monday (5/8), the General Index plunged by -7.37%, trading at 1,325.49 points, fluctuating between a low of 1,325.03 and a high of 1,428.01 points.

The current scenario reflects one of the most significant daily declines in recent years, comparable to February 24, 2022 (-6.42%) and March 23, 2020 (-7.58%). If the index falls below 1,300 points, it risks wiping out 2024’s gains.

The General Index of the Stock Exchange has been moving upwards since the beginning of the session, exceeding the levels of 920 points.

At 11.00 the General Price Index stood at 921.27 points, marking an increase of 0.75%.

The value of the transactions amounts to 4.05 million euros.

56 stocks are up, 13 are down and 12 are flat.

US investment fund CVC Capital is rapidly evolving into the biggest foreign investor in Greece, as it is currently in negotiations for the acquisition of an 80% stake in Ethniki, Greece's biggest insurer, for about 450-460 million euros.

National Bank expects to collect some 500 million euros from the transfer of up to 80 percent of its insurance subsidiary, Ethniki, whose sale process is set to start by the end of the month.

The new tender for the sale of leading insurer Ethniki will be open to all suitors after the first process attracted interest only from Chinese groups Fosun, Gongbao and Wintime.

Chinese group Fosun formally expressed its interest in Greece's leading insurance company Ethniki on Thursday, at a price that should be adjusted based on the firm's financial data, according to Fosun's senior vice president and executive board director Lan Kang.