Intercepting Iranian Missiles with Greek Patriot System Does Not Constitute War Engagement, Government Spokesman Says

Macro/Political:

• Scope credit rating review of the Greek economy is scheduled to be released today. The Agency currently holds Greece at BBB, outlook positive.

• Government spokesman Pavlos Marinakis yesterday said that the interception of two Iranian missiles by a Greek-operated Patriot system in Saudi Arabia does not constitute Greece’s engagement in the ongoing war in the Middle East. More specifically, Marinakis stated that “when you are faced with an attack, you respond defensively,” adding that the incident demonstrated how much the Greek armed forces have been upgraded. Speaking at a press briefing in Athens, he also stressed that the Greek unit was not involved in any offensive action.
  Source: Kathimerini

• Bank of Greece Governor Yiannis Stournaras said yesterday in a lecture organized by AHEPA in Frankfurt that, as long as energy prices ease, growth is expected to remain around 2.1%, once again surpassing the Eurozone average and supporting continued convergence with European income levels. However, Stournaras cautioned that the external environment remains fragile, as geopolitical instability, uncertainty, and the potential escalation of the war in the Middle East pose risks, while a prolonged conflict could trigger higher inflation and slower growth.
  Source: Kathimerini

Markets:

• Titan FY25 net income after tax and minorities stood at EUR 309.8mn, reflecting an increase of approximately 7.4% (y-o-y).
  Source:ATHEX

• PPC FY25 adjusted net income after minorities stood at EUR 448mn, reflecting an increase of approximately 22.74% (y-o-y).
  Source: ATHEX