The Athens Stock Exchange closed 2023 with high gains of 39.08%, completing the third consecutive year of growth (+4.08% in 2022 and +10.43% in 2021) and was at the top of the returns worldwide. It won the “bronze” medal globally, closing behind the Russian MOEX index and the Nasdaq.

The General Price Index closed in 2023 at 1,293.14 points, compared to 929.79 points in 2022, marking an annual increase of 39.08%.

The main stock index recorded, at the closing level, its highest price on July 25 (1,345.95 points).

The total market capitalization increased by 22.026 billion euros and stood at 87.888 billion euros.

The significant rise in share prices was also accompanied by an increase in transaction value, with average daily transactions at €111 million, almost 50% higher than last year.

The large-cap index gained 38.70% and the mid-cap index gained 59.47%.

The Banking Index registered a rise of 65.73%, while the total capitalization of the four systemic banks increased by 7.889 billion euros.

The rise of the stock market in 2023 was supported by:

– In the recovery of the investment grade with Greece rising from the B’ National to the A’ National. The recovery of the investment grade creates a different investment audience for the Greek stock market as well and puts its upgrade to the developed markets on the final stretch, possibly in the summer of 2024.

-In the upward trajectory of the Greek economy, in 2023, which is also certified by the first place it occupied, for the second consecutive year, for the improvement of its performance, according to a survey by the Economist and in the good image presented by the fiscal figures of the Greek economy..

– In the development perspective of Greece: According to the Commission, in 2023 Greece will have twice the economic growth rate of the average European average and in 2024, a more difficult year for Europe. According to the Commission, Greece will be the champion among all the countries of the European Union in the period 2022-2024 in the growth rate of investments, due to the increased flows of European funds (Recovery Fund and NSRF mainly).

– Record results recorded by listed companies. Listed companies handed out more than $3 billion in dividends in 2023, surpassing 2022’s $2.4 billion performance, which is also the highest since 2009, the last year before the Great Recession began. crisis, despite the fact that the four systemic banks continue not to distribute dividends.

– In the privatization program. The concentration of liquidity of more than 8 billion euros in the placement of 20% of National Bank constitutes a strong deposit for the successful outcome of the demanding share disposal projects of Piraeus Bank and El. Venizelos.

– In the fact that, after many years the Banks will be profitable, with single digit NPEs and with a promise of dividend distribution. 2024 will be the year when the dividend drought of the Banks will be broken after 15 years.

The course of the market

The Greek stock market was the world champion of returns in the first half of 2023 with gains of 37.16% (January +10%, February +10.41%, March -6.61%, April +2.89%, May +12, 31% June +4.92%), hovering near 9-year highs.

The course of the Greek stock market during the pre-election period surprised even the most optimistic. Political risk was downplayed with the market discounting the formation of a strong government, which the election confirmed.

Within the first semester, G.D. it successively first broke the 1,000 “barrier” on January 26, then climbed above 1,100 points on February 17, on May 22 surpassed all 1,200 points and then moved above 1,300 points to nine-year highs.

July was positive (+4.45%) to be followed by three months of corrective decline (August -1.72%, September -7.86%, October -1.34%), for the market to return to an upward trajectory in November (+6.88%) and move higher in December (+1.41%)

The returns

The biggest increase in 2023 was registered by the shares: Domiki Kritis +302.47%, Klukinas-Lappas +241.80%, Intrakat +213.01%, MIG +200.57% and Moda Bango +193.35%.

On the contrary, the biggest losses were recorded by the shares: Progressive -30.91%, Dimand -28.86%, Frigoglass -22.22%, Terna Energy -21.98% and Vioter -18.92%.

Of the high capitalization stocks, the largest annual increase was registered by Piraeus (+122.47%), followed by Aegean Airlines (+114.37%), Mytileneos (+80.79%), Titan ( +77.86%), PPC (+70.25%), Ethniki (+67.87%), Jumbo (+57.20%), Alpha Bank (+53.90%), Eurobank (+52.61%), PPA (+46.84%) and Ellactor (+45.71%).

On the contrary, the shares of Terna Energy (-21.98%), OTE (-11.58%), EYDAP (-10.44%) and ELPE (-4.08%) closed down from the high capitalization ).

The stocks in the large-cap index closed 2023 as follows:

TITAN: 21.4500 +77.86%

ALPHA BANK: 1.5390 +53.90%

AEGEAN AIRLINES: 11.3400 +114.37%

VIOHALCO: 5.2600 +31.345

GEK TERNA: 13.1600 +22.61%

PPC: 11.1600 +70.25%

COCA COLA HBC:26.4200 +16.90%

ELLAKTOR: 2.5500 +45.71%

ELPE: 7.2800 -4.08%

ELVALHALCOR: 1.8500 +14.20%

NATIONAL: 6.2900 +67.87%

EYDAP: 6.0900 -10.44%

EUROBANK: 1.6100 +52.61%

STOCK QUEST: 5.6200 +19.32%

LAMDA DEVELOPMENT: 6.7600 +15.56%

MOTOR OIL: 23.7600 +8.89%

JUMBO: 25.1200 +57.20%

MYTILINEOS: 36.7000 +80.79%

PPA:23,2000 +46.84%

OPAP: 15.3700 +19.36%

OTE: 12.9000 -11.58%

AUTOHELLAS:12.7800 +23.36%

PIRAEUS: 3.2000 +122.47%

SARANTIS: 8.3800 +29.12%

TERNA ENERGY: 15.9000 -21.98%

ANNUAL PERFORMANCE OF THE GENERAL INDEX

2023 +39.08%

2022 +4.08%

2021 +10.43%

2020 -11.75%

2019 +49.47%

2018 -24.74%

2017 +24.66%

2016 +1.95%

2015 -23.58%

2014 -28.94%

2013 +28.06%

2012 +33.43%

2011 -51.88%

2010 -35.62%

2009 +22.93%

2007 +17.86%

2006 + 19.93%

2004 +31.5%

2003 +23.10%

2002 +29.5%

2001 -32.5%

2000 -23.5%

1999 -38.8%

1998 +102.2%

1997 +85.1%

1996 +58.5%

1995 +2.1%