# The Greek market begins a new upward cycle
The deescalation of U.S.-Iran tensions and the safe passage from the Straits of Hormuz led to a sharp drop in energy prices, with Brent retreating -14.3% to $91.70. The General Index reacted dynamically from 2,160 units, reaching 2,250, aiming at 2,620 units. Sarantis (+17.42%), Piraeus (+15.72%) and PPC (+15.38%). GEK TERNA announced a turnover of 3,855,4m euros (+18.6%) and EBITDA 631.4m euros (+86,2%), while Crediabank completed a successful capital increase of 300m euros with overcompensation of 3.8 times.
Analyticalally:
The Apostle Manthus
The U.S.-Iran front deescalation and weekly visibility for safe passage through the Straits of Ormuz led to a steep discharge of energy prices, with Brent to slide up to -14.3% at $91.70 and US Crude Oil WTI against -17.50% at $91.05. The market directly priced the reduction of the geopolitical risk premium, bringing attention to capital flows and selective placement in securities that showed resilience during volatility. On the dashboard, the General Index reacted dynamically with the segmentation of the downward line "Q", from the area of 2,160 units, triggering strong purchasing reflexes that brought him back to 2,250 units. The upward detonation was accompanied by an increased daily variation range and reinstated over the 2,200 unit zone, which now acts as a short-term support point. The next test is located in the area of 2,325 units, where a strong offer had been made before, while the zone of 2,400 units remains higher. Over there we go for new highs of many years by setting the target of 2,620 units.
At the individual titles level, the last 30 meetings, the last day of last Wednesday's intra-session medium when the article was written, highlighted a group of twelve shares of high capitalization that stood out in performance. The Sarantis recorded rise +17.42%, the Piraeus Bank +15.72%, the PPC +15.38% and National Bank +12.77%. The same axis was moved by GENTER with +12.11% and Aegean Airlines with +12.01%, the Optima Bank scored +10.98%The Alpha Bank and Eurobank were strengthened by +10.83% and +10.74% respectively, Allwyn following at +10.84%. Strong upward presence also recorded the Titan Cement with +8.86% and Cenergy Holdings with +8.67%, confirming that the diffusion of yields was not limited to one branch. The pattern of recent weeks indicated that the market did not have the power to break the psychological limit of 2,000 units of the General Index, an element that prompted several investors into gradual placements.
The events of the week distinguished the results of GEK TERNA and the entry to trading of Crediabank's new shares after the very successful capital increase.
The GENTER So it presented for 2025 a set of results that significantly upgrades the size and dynamics of the group. Turnover rose to EUR 3,855,4 million, recording an increase 18.6% on an annual basis, while the adapted EBITDA launched at EUR 631.4 million, reinforced by 86,2% and higher market estimates by 4%. The sector-by-sector contribution confirms the group's expanded business base, with the constructions repaying EUR 187,3 million, the concessions of EUR 362,8 million and the energy of EUR 93,1 million.
The net profitability from ongoing activities was established in EUR 147,3 million, increased by 48%, an item reflecting operational leverage and cash flow enhancement. Operating cash flow rose to EUR 556,6 million From EUR 341.6 million, strengthening the capacity for self-financing, while the investment outflows were formed in EUR 1,361 million, of which approximately EUR 1.3 billion directed towards granting the Egnatia Road.
The outstanding balance of projects remains at historically high levels, in EUR 9,6 billion, with the EUR 6.8 billion already signed, offering strong visibility for the coming years. The net lending was formed in EUR 4.297 million, of which EUR 4,086 million relate to project finance, compared with EUR 3,258 million at the end of 2024. The administration will propose a dividend EUR 0,40 per share. Charts the share under the upward pressure of the long-term upward rotor "D” seems to be heading towards the limit of EUR 40.
The Crediabank It now passes into a different evaluation zone, with the behavior of the book acting as the most dynamic indicator. Demand exceeding EUR 1.1 billion to raise EUR 300 million and overcover 3.8 times, which reaches 5.4 times If the contribution of cornerstone investors is removed, they make up an image found in mature European publications. The participation of Discovery Capital, Fiera Capital and Marbella Investment with EUR 110 million gave direction and stability from the first moment, acting as a benchmark for the international chapters that followed.
The continuation of the distribution further strengthened the burden of the transaction. Nuveen, William Blair, Redwheel, Janus Henderson, Norges Bank Investment Management, Eaton Vance and Lazard make up an investment set with huge managed funds and an approach based on duration rather than short-term traffic. At the same time, the participation of domestic investors and thousands of private individuals expanded the base, adding depth and stability to the share composition.
At the heart of this development lies confidence in management. The Helen Brittou and her administrative team have already developed a footprint identified by large international portfolios, consistent with the execution and ability to initiate complex processes in compressed times. The new shareholder base creates conditions for a more flexible strategy and enhanced financial capacity, placing the bank on the next development phase track with clearly upgraded features. The stock seems to want to step above the level of 1,118 to 1,10 euros in order to move towards the range of 1,20 to 1,30 euros.
* Apostolos Manthos is responsible for technical analysis & investment strategy
** The content of the Article may in no way be regarded as advice or suggestion or recommendation or invitation to purchase or sell any share or investment or financial product traded on an organised or non-market.
***Republished by the newspaper Chapter
