Despite a cumulative loss of about 7 billion euros in the Athens market since the outbreak of the Middle East war, some listed shares continue to thrive, with significant gains amidst geopolitical tensions.
Eight trading sessions have passed since the outbreak of war in the Middle East, with the Athens stock market seeing cumulative losses of approximately 7 billion euros during this period. However, this downturn has not deterred several listed companies, which not only withstand geopolitical shocks but have also managed to navigate positively amid the circumstances. One notable example is the stock of EYDAP, which has risen by +9.0% in March alone, reaching a new high of 4.5 years at 8.5 euros.
The recent increase in EYDAP's stock price can be attributed to a 9.7% stake acquisition by GEK TERNA following John Paulson's divestment, marking a key catalyst for the company's rise. Additionally, price hikes in tariffs have further strengthened EYDAP's market position. The benefits are also reflected in the performance of two publicly listed refineries, which are thriving thanks to the recent surge in oil prices that temporarily enhances refining margins.
Overall, the current situation highlights the resilience of certain sectors within the Greek economy, as they capitalize on market conditions while others suffer losses. As the geopolitical landscape remains unstable, the ability of these companies to sustain and possibly increase their value will be crucial for investor confidence and the overall economic outlook in Greece.
