The Greek stock market remained on a losing track for the second consecutive day, with Piraeus Bank as the negative protagonist. In the first seconds of today’s trading, the mega package worth 160.305 million euros (35,001,100 shares) was passed in the first seconds of today’s trading, which was related to the placement conducted for the sale of 2.8% by the main shareholder, John Paulson. In this context, the bank’s shares came under strong pressure, retreating towards the price at which this transaction took place (EUR 4.58), closing even lower than this price.

As for Tuesday’s (25/2) session on the HA, the General Index declined by 7.55 points or -0.47% to close at 1,596.41 points. The range is set at around 8 points, with a daily high of 1,601.95 points and a daily low of 1,593.78 points. Over the last two days, the GD has declined by -1.34%. At +3.04% the yield within February and +8.62% in 2025. Turnover exceeded 350 million euros, due to the Piraeus package.

The political turmoil that the Tempi issue has brought to the surface is not leaving the XA unaffected, which is awaiting the nationwide rallies next Friday, on the day of the “black” anniversary two years after the railway accident. Abroad, investors are avoiding risk-taking, with an eye on the tariffs imposed by Donald Trump, the ceasefire negotiations in Ukraine and the results to be announced tomorrow by tech giant, Nvidia.

In technical analysis, apart from Piraeus Bank’s “plunge” of over -3%, notable losses were recorded by Cenergy Holdings, Lamda Development, OPAP, OTE, Jumbo, GEK Terna and AIA. On the other hand, Coca Cola continued to resist the pressure and extended its all-time high again. A new 9-year record for Eurobank, which returned above 2.5 euros, while Titan and Attica Bank also posted notable gains.

Piraeus Bank and Lamda Development in focus

Shareholder shake-ups in Piraeus Bank (John Paulson sold for 2.8%) and Lamda Development (Panos Germanos and the Katsou family through Voxcove sold for 3.26%) brought the two stocks into focus.

In the case of Piraeus, after the announcement of the annual results came the placement for 2.8% of the bank by its main shareholder, John Paulson, for €160 million (€4.58 per share), with the US billionaire businessman’s stake falling to 14% (about 170 million shares). Due to strong demand, about 35 million shares were placed, down from the 30 million shares originally planned, at a small discount of 3.2% to 3.3% compared to yesterday’s closing price of EUR 4.73. Settlement of the transaction is expected to take place by February 26.

Three bids for 3.26% of the share capital had been preceded on Monday by three bids, with the seller being Voxcove Holdings, an investment group jointly owned by the Olympia Group of the German family and VNK Capital controlled by Vassilis and Eleni Katsou. With these transactions, Voxcove reduced its stake in Lamda to 6.74% from 10% previously. The three packages changed hands for a total of EUR 39.1 million.

On Wednesday (26/2), before the start of the trading session, OTE will present its performance for the second quarter and full year 2024. On Thursday (27/2), Eurobank, HELLENiQ ENERGY, Ideal Holdings, and Noval Property will take their turn. National Bank and Alpha Bank follow on Friday (28/2), while the changes from the MSCI index restructuring will take effect on the same day.

Losses and volatility in international markets

Technology stocks came under fresh heavy pressure on Wall Street, continuing their downward streak after last Friday’s sell-off. The Nasdaq was down -1.2%, with investors anxious about investments in artificial intelligence as they await Nvidia’s results, due to be released on Wednesday. Next up on Friday is data on the personal consumption expenditures (PCE) index, the Federal Reserve’s favorite inflation gauge. Despite the sluggish start, sellers are stepping on the gas again on Wall Street, with the Nasdaq down -1.8%.

It’s a volatile backdrop for European stock markets today, with the major indices changing signs after a mildly bullish start. The Stoxx 600 remains unchanged at 553 points. The German DAX is down -0.3% and the French CAC 40 is lower by -0.5%. Asian markets remained on a losing track, with the key indices in China, Japan, and Hong Kong sliding more than -1%.