Foreign capital markets may have recently recorded strong volatility, but the climate in the Athens Stock Exchange remains at its highest levels in the last 14 years (>1,600 points).
The General Index has recorded returns of more than +10.7%, confirming that it has proven to be one of the “favorite” choices of foreign investors. Banks – a traditional pillar of the Athens stock exchange – are registering gains of almost +20%, at the same time that total capitalization is at its highest levels since 2008 (>114 billion euros).
The profitability of listed companies is very likely to approach or even exceed 11 billion euros in 2024 (if this happens, it will be the best level since 2007), while the estimates for the current fiscal year (2025) remain optimistic, if we take into account the management guidance so far.
At the same time, dividends continue to be characterized as generous, with this year’s benchmark set at 5 billion euros, which reflects a dividend yield of more than 4.3%, based on the current value of those listed on the Athens Stock Exchange.
To all this we must add the pending business deals.
However, all eyes are turned on the possibility of an upgrade of the Greek economy by Moody’s next Friday (14/1). A possible upgrade to the investment grade will be a catalyst for positive developments, with some talking about a possible approach to or exceeding the resistance of 1,650 points.
On Friday, DBRS proceeded with an upgrade, placing the Greek rating one notch above the investment grade base (BBB).
