What politics sometimes cannot achieve, economy can. And this is probably what JP Morgan had in mind when it coupled the markets of Athens and Istanbul in its future plans.
More specifically, JP Morgan investors are expected to visit Athens and Istanbul on April 15-19, as the stock markets of the two countries have attracted their interest. The fact that Greece, due to the high investment returns but also because it still retains some of its old characteristics, is considered by many investors to be an emerging market – even with a lower risk, along with the fact that the banking sector in Turkey is extremely prosperous, despite concerns over the economy, justify the decision of the rating agency.
The improvement in bilateral relations creates additional expectations for bilateral economic alliances, as experienced analysts stated.
More specifically, JP Morgan’s largest clients will be in Istanbul and Athens between April 15-19 in order to meet the managements of local banks, as well as large companies, supervisors and government officials.
As far as Greece is concerned, they will come to Athens on April 18-19 and meet the managements of Aegean Airlines, Alpha Bank, Hellenic Stock Exchange, Bank of Greece, Eurobank, GEK Terna, Helleniq Energy, Mytilineos, National Bank, OPAP, Piraeus Bank, PPC, as well as representatives of the Greek government.
Stock Exchanges – Banks
In the Istanbul Stock Exchange, the return of the BIST 100 index reached 50% in 2023, which leaves significant room for expectations in 2024. In the Athens Stock Exchange, with a market capitalization of 22 billion euros in 2023, the prices of several shares are considered undervalued, while the general index rose 38% over the past year. Anything Greek, however, seems to be a strong investment target for international investors who buy everything.
The recent example of National Bank, which climbed to new highs after the placement, records the potential of the banking sector in particular, which is waiting for several more upgrades. As far as banks are concerned, the investment destiny of both countries seems common, since their prospects, as outlined by the foreign rating agencies, look promising.
