Only ten years ago, Greece was leasing out state assets and negotiating bailout terms with its creditors. This July, the Athens General Index closed above 2,500 points for the first time in 17 years, and Euronext Athens (ATHEX) finished the first half of 2026 as one of the world's ten best-performing exchanges, ahead of the S&P 500 and the STOXX 600 for the period. Analysts upgraded Greek equities to overweight in early July, citing index reforms, bank strength, and valuations still catching up to the rally. Few European markets have turned around this completely, which made Greece the obvious next stop for our PIGS series, after Spain and Italy.
Banks are doing most of the work in this month's Obermatt Top 10. Three of our Top 10 ATHEX names are lenders, and the sector has been the main driver of the index's climb, helped by dividends resumed after nearly 16 years. But the rest of the list features real estate, industrials, retail and technology distribution, evidence that the recovery has spanned more of Greece's economy than just Athens' big banks.
So which Greek stocks actually stand out? At Obermatt, we rank stocks not by hype, but by how they perform against their peers on a scale from 1 to 100, across Value, Growth, Safety and Sentiment, brought together in a single 360° View.
The 360° View captures all-around strength, but investors often want to screen our Top 10 lists by different strategies, such as the safest financing, the strongest Sentiment, the highest Dividend Yield, or the best all-round Combined score of financial metrics.
The Value Winners
HELLENiQ Energy has the biggest contrast on the list. Its Value Rank of 98 sits next to a Sentiment Rank of just 1, a gap between what the refiner is earning and how the market is perceiving it. Aegean Airlines tells a slightly different story: its Value Rank of 94 opposed to a 360° View of only 19, dragged down by weak Safety and Growth scores, fueled by the seasonal volatility of the tourism industry.
Power, Grids, and the Growth List
Greece's recovery is driven by investments in infrastructure, and the Growth Top 10 confirms that, with half of the Top 10 companies active in infrastructure or real estate. Public Power, Admie, and Cenergy are all, in different ways, "plugged" into the same story: Greece's grid operator, its main utility, and a cable maker fueling the country's energy transition and the EU-funded infrastructure buildout that is propping up investment growth past couple of years. Lamda's Growth Rank of 100 is directly linked with what is happening on the ground at Athens' Ellinikon, the largest urban regeneration project in Europe.
The 360° Winners
Here is our 360° View Top 10 for the ATHEX.
Name | 360° View | Sentiment | Combined | Value | Growth | Safety |
|---|---|---|---|---|---|---|
1. Medium • Diversified Banks | 100 | 81 | 100 | 94 | 91 | 70 |
2. Medium • Specialty Stores | 100 | 91 | 98 | 52 | 92 | 100 |
3. Medium • Real Estate Development | 98 | 85 | 94 | 73 | 100 | 55 |
4. Medium • Aluminum | 98 | 93 | 75 | 86 | 37 | 71 |
5. Small • Commodity Chemicals | 94 | 35 | 96 | 100 | 77 | 86 |
6. Small • Real Estate Services | 94 | 57 | 94 | 100 | 99 | 39 |
7. Medium • Technology Distributors | 94 | 73 | 96 | 84 | 57 | 80 |
8. Small • Technology Distributors | 93 | 82 | 87 | 96 | 85 | 32 |
9. Small • Diversified Banks | 91 | 71 | 89 | 65 | 78 | 78 |
10. Medium • Diversified Banks | 90 | 91 | 77 | 74 | 67 | 67 |
Here is some more info on our Top 10 ATHEX stocks:
- Piraeus Bank: Greece's largest lender by loan book. Recent News: Piraeus reported record H1 2026 profitability of €617 million, up to a 16% return on tangible book value, with Q2 net profit of €336 million, up 22% year over year, and resumed a €494 million cash distribution from 2025 profits.
- Jumbo: The region's leading toy and household goods retailer, with stores in Greece, Cyprus, Bulgaria, Romania and Serbia. Recent News: Full-year 2025 sales rose 7.2%, and the company agreed to acquire full ownership of subsidiary Herald Greece 2 from Eurobank, one of the other names on this list.
- Lamda Development: Greece's largest mall operator and developer of The Ellinikon, the former Athens airport site being converted into Europe's biggest urban regeneration project. Recent News: Q1 2026 revenue reached €143 million, up 35% year over year, with cumulative Ellinikon property sales surpassing €1.7 billion.
- ElvalHalcor: A Viohalco subsidiary producing copper and aluminum products for energy, transport, and construction. Recent News: H1 2026 revenue rose 18% to €2.2 billion, and the company completed a €250 million share capital increase in July to fund its investment plan.
- Thrace Plastics: A producer of technical fabrics, agricultural nets, and packaging, exporting over 70% of output. Recent News: The company completed the acquisition of Australia's BHA Holdings, extending its export footprint beyond Europe.
- Premia: An Athens-listed real estate investment company majority owned by Sweden's Sterner Stenhus, focused on logistics, hotels, and student housing. Recent News: Q1 2026 revenue grew 35% to €11.1 million, and the company issued a €150 million seven-year bond to fund further acquisitions.
- Quest Holdings: A diversified Athens-based group spanning IT distribution (Info Quest), courier services (ACS Courier), and IT integration (Uni Systems). Recent News: The group reported consolidated 2025 sales of €1.47 billion across its technology and logistics businesses.
- Ideal Holdings: Greece's only listed private-equity-style investment vehicle, with holdings in IT services, retail, and food. Recent News: The company completed its €130 million acquisition of food producer Barba Stathis, and US firm OHA increased its co-investment stake to support further deals.
- Optima Bank: A fast-growing Athens-listed lender built around business and private banking. Recent News: H1 2026 net profit rose 29% to €104.3 million, with loans up 38% year over year, and the bank agreed to acquire 80.8% of investment house Euroxx.
- Eurobank: Greece's largest bank by market value, with meaningful operations in Cyprus and Bulgaria. Recent News: H1 2026 adjusted net profit reached €776 million, up 9.2% year over year, with non-Greek operations contributing nearly half of the total.