The Athens Stock Exchange has recently accelerated the procedure for the imminent upgrade in 2025, with the capitalization increasing by 10.5 billion euros in the first 61 sessions of the year.
The main feature of the sessions during the first quarter was the increase in the average daily value of transactions, as since last November large foreign investment funds have come to Greece.
Among the largest foreign institutions [Fidelity, Blackrock, Capital Group, Norgest (Norway), Lazard, Allianz, GIC (Singapore), Robecco (Netherlands), RWC (USA) and Wellington] which changed the map of outflows – inflows in the domestic market.
The investment schemes that came to Athens manage tens of trillions of dollars, in a market with a total capitalization of 98.420 billion euros and only 21 companies – out of a total of 154 – with a capitalization of more than 1 billion euros, compared to 17 at the end of 2022.
The satisfactory image of medium and small capitalizations maintains liquidity within the system, increases the cycle of investment rotation and acts as a counterweight to liquidations which, after four consecutive months of growth, have significantly increased the supply.
Dividends also act as a deterrent to liquidations and the maintenance of interest, as the cut-off time of a few months or weeks combined with the yield gives holders incentives to hold on.
Estimates for better performance
The consistent execution of business plans and achievement of profitability targets by the main large and mid-cap listed companies has improved market reflexes and increased the credibility of management.
However, the main element that emerges from updating the business plans for the next or subsequent years is the assessment for higher operational performance.
If there is one thing that can certainly be applauded is the degree of consistency so far, the flow of news and the completion of difficult ventures that have helped change psychology, increase interest and the degree of effectiveness of the market.
